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According to the Energy Information Administration, U.S. petroleum inventories (excluding SPR) fell by 7.5 million barrels last week to 1.422 billion, and SPR stocks dropped by 0.8 million barrels. Total stocks stand 128 mmb above the rising, rolling 5-year average and about 128 mmb higher than a year ago. Comparing total inventories to the pre-glut […]
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