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EIA reports a second straight weekly increase in in U.S. crude supplies
The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 1.6 million barrels for the week ended Aug. 9. That followed an increase of 2.4 million barrels the week before. Analysts polled by S&P Global Platts, on average, expected a decline of 2.7 million barrels, while the American Petroleum Institute on Tuesday reported a 3.7 million-barrel rise, according to sources. The EIA data also showed that gasoline inventories were down by 1.4 million barrels, while distillate stockpiles edged lower by 1.9 million barrels last week. The S&P Global Platts survey had shown ... (full story)