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US Oil, Product Inventories See Builds Across the Board
Crude oil inventories in the United States saw an increase of 2.0 million barrels during the week ending July 17, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday.
AI Summary
US oil and product inventories have seen a notable increase across the board. This growth is reflected in the latest data from the U.S. Energy Information Administration (EIA), which reported a rise in commercial stockpiles. The EIA's figures show that crude oil inventories have increased by 2 million barrels, bringing the total to 411.7 million barrels. This level is 6% below the five-year average for this time of year. The reported increase in oil inventories follows similar data from the American Petroleum Institute (API), which also reported a rise in crude oil inventories.
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