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API Data Show Surprise Inventory Decline - Crude ETF Firmer

Oil inventories fell 354,000 barrels, according to American Petroleum Institute data issued this evening. Analysts polled by Platts had expected oil stocks to increase 2.8 million barrels.

In the ETF space, United States Oil Fund ( USO ) is up 0.15 at 35.44 in after-hours trading.

Crude futures settled at $84.32 a barrel in regular trading Tuesday, an 11-week low.

Also reported, gasoline stocks rose 1.23 million barrels; they were seen rising 1.7 million barrels. Supplies of distillates, which include heating oil and diesel, declined 1.2 million barrels. The analysts surveyed had expected a decline of 1.1 million barrels.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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