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crude oil inventories are falling more than expected

In the United States, oil stocks fell 3.576 million barrels during Christmas week, the US energy agency EIA reported. This is more than the fall of 3.143 million barrels expected by analysts, and represents a fifth consecutive week of decline: during the previous week, stocks had fallen by 4.715 million barrels. At the same time, gasoline inventories fell by 1.458 million barrels, surprising analysts who were hoping for a rise of 0.487 million.

At the end of the afternoon, a barrel of West Texas Intermediate, the American benchmark, gained 1.06% to 76.89 dollars.

source: AOF

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