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Crude Oil Inventories in USA Exceed Market Expectations on a Weekly Basis

(AOF) – The US Energy Information Agency (EIA) announced that crude oil inventories rose by 1.117 million barrels in the week ended March 17, with specialists forecasting a decline of 1.565 million barrels after +1.550 million the previous week. Gasoline stocks, for their part, fell by 6.400 million barrels. The consensus expected a decline of 1.677 million barrels. Stocks of distilled products, including heating oil, fell by 3.313 million barrels while the market anticipated a drop of 1.5 million barrels.

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