Crude oil inventories in the United States dropped by 21.8 million barrels to 915.8 million barrels in June, which was the lowest level since 2004, the latest data from the Joint Organisations Data Initiative (JODI) showed on Wednesday. Product inventories, on the other hand, rose by 34.1 million barrels to 650.5 million barrels, according to the data from JODI, which compiles self-reported data from countries. The low crude inventory levels in the United States in June coincided with the latest rally in oil prices in the early days of the…
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