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OIL: US Crude Inventories Continue To Build

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Bloomberg reported that US inventories rose a further 3.34 mn barrels last week, according to people familiar with the API data, higher than expected. They rose 1.47mn at Cushing, while there was a gasoline build of 2.8mn but a distillate drawdown of 2.7mn. Stocks have been rising due to increased flows from Canada to beat tariff deadlines and planned US refinery maintenance. The official EIA data is out later today.

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Bloomberg reported that US inventories rose a further 3.34 mn barrels last week, according to people familiar with the API data, higher than expected. They rose 1.47mn at Cushing, while there was a gasoline build of 2.8mn but a distillate drawdown of 2.7mn. Stocks have been rising due to increased flows from Canada to beat tariff deadlines and planned US refinery maintenance. The official EIA data is out later today.