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US crude oil inventories fall by 7.4m barrels
US commercial crude oil inventories decreased by 7.4 million barrels in the week ending 31 August. The US Energy Information Administration says that at 357.1 million barrels, crude oil inventories are near the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 2.3 million barrels last week and are in the lower half of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories increased by 1.0 million barrels last week and are below the lower limit of the average range for this time of ... (full story)