Oil Markets Shocked By Across the Board Inventory Builds ...Middle East

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Oil Markets Shocked By Across the Board Inventory Builds
Crude oil inventories in the United rose this week by 5.202 million barrels, the American Petroleum Institute (API) data showed on Wednesday, with analysts expecting a 1.22 million barrel dip. The rise in crude oil inventories doesn’t fully offset the 6+ million barrel drop last week. The total number of barrels of crude oil gained so far this year is just over 40 million barrels. This week, SPR inventory dropped for the ninth week in a row as another 2.6 million barrels of congressionally mandated crude oil was sold during the week ending…

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