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US Oil Inventories Rise Unexpectedly

M. Ali 12 November, 2020 10:54 pm Commodities, Market Update

Data by the United States Energy Information Administration (EIA) showed on Thursday that crude oil inventories in the US rose by 4.3 million barrels last week.

The data comes against expectations a 3 million-barrel decline, according to a poll by S&P Global Platts.

Gasoline inventories declined by 2.3 million barrels, while distillate stockpiles decreased by 5.4 million barrels.

On Tuesday, the American Petroleum Institute (API) reported a 5.1 million-barrel decline in American stockpiles.

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