The U.S. Energy Information Administration showed that crude oil inventories decreased by 400,000 barrels over the week to July 15, versus the expected 748,000-barrel build compiled by a Bloomberg survey. On Tuesday, the American Petroleum Institute reported that crude oil inventories grew by 1.86 million barrels for the week to July 15. Last week, the EIA report showed a build in crude oil inventories of 3.3 million barrels—a rare occurrence in the middle of peak driving season in the United States, but helped along by…
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