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Crude Oil Price Stems Losses as Inventories Shrink

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning, showing that U.S. commercial crude inventories decreased by 2.8 million barrels last week, maintaining a total U.S. commercial crude inventory of 462.2 million barrels. The commercial crude inventory remained near the upper limit of the average range for this time of year.

Wednesday evening the American Petroleum Institute (API) reported that crude inventories rose by 3.1 million barrels in the week ending October 6. API also reported gasolin…
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