Crude oil inventories rose by another 6.33 million barrels last week, the American Petroleum Institute (API) data showed on Tuesday, on top of last week’s 3+ million barrel build. U.S. crude inventories increased 13 million barrels last year, according to API data, while crude stored in the nation’s Strategic Petroleum Reserves sunk by 221 million barrels. This week, SPR inventory held steady for the third week in a row at 371.6 million barrels as the emergency releases that the Biden Administration announced last spring are now complete.…
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