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EIA reports a fifth straight weekly fall in U.S. crude-oil supplies
The Energy Information Administration on Wednesday reported that U.S. crude supplies fell for a fifth consecutive week, but by less than the market expected. Crude stockpiles were down 3.1 million barrels for the week ended July 12. They were forecast to fall by 4.2 million barrels, according to analysts polled by S&P Global Platts. The American Petroleum Institute on Tuesday reported a decline of 1.4 million barrels, according to sources. The EIA data showed that gasoline inventories climbed by 3.6 million barrels, while distillate stockpiles increased by 5.7 million barrels last week. The S&P Global Platts survey ... (full story)