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U.S. crude oil, gasoline inventories rise: EIA
U.S. crude stocks rose less then expected last week, while gasoline stocks rose by more than analysts had forecast as refineries cut output, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1.8 million barrels in the week to Feb. 9, short of analysts’ expectations for an increase of 2.8 million barrels. “With a big drop in refining activity as we descend deeper into maintenance season, we have seen a third consecutive build to crude stocks,” said Matt Smith, director of commodity research at ClipperData in Louisville, Kentucky. U.S. crude futures rose on the news, ... (full story)