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crude oil inventories up sharply as the market waited for a decline

Commercial crude oil reserves in the United States rose significantly last week, according to figures released by the United States Energy Information Agency (EIA) on Wednesday, as the market expected a further decline.

During the week ended September 24, crude inventories rose 4.6 million barrels (Mb). Analysts forecast a decline of 2.48 million barrels. Reserves remained on seven consecutive weeks of decline.

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