US Crude Oil Stocks Continue to Grow, Threatening Fragile Price Rally ...Middle East

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US Crude Oil Stocks Continue to Grow, Threatening Fragile Price Rally
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Crude oil inventories in the United States increased by 6.4 million barrels during the week ending November 7, after gaining 5.2 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The increase brings commercial stockpiles to 427.6 million barrels according to government data, which is still 4% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil…

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