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API estimates show larger-than-expected 4.8 million barrel build

Investing.com -

Investing.com - The American Petroleum Institute (API) said late Tuesday that crude inventories rose 4.8 million barrels last week, larger than expected, and following a 3.8 million draw the previous week.

Stocks at Cushing eased 2.3 million barrels, API said, as an outage of a pipeline feeding the facility continues to crimp flows.

Gasoline inventories recorded a build of 1.7 million barrels, and distillates fell 900,000 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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