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According to the Energy Information Administration, U.S. crude inventories (excluding SPR) fell by 7.2 million barrels last week to 1.395 billion, and SPR stocks dropped by 0.8 million barrels. Total stocks stand 101 mmb above the rising, rolling 5-year average and about 122 mmb higher than a year ago. Comparing total inventories to the pre-glut […]
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