The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 3.821 million barrels in the week ending September 19. This week’s draw follows last week’s 3.420 million barrel draw. So far this year, crude oil inventories are up just 1.5 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 300,000 barrels to 406 million barrels in the week ending…
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