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OIL PRICES RISE AFTER API REPORTS VERY LARGE CRUDE DRAW

The American Petroleum Institute (API) reported a huge crude oil inventory draw of 8.129 million barrels for the week ending July 4, compared to analyst expectations of a smaller 3.081-million barrel draw.   Last week, the API reported a draw of 5 million barrels. A day later, the EIA estimated a much smaller inventory drawdown… Continue reading OIL PRICES RISE AFTER API REPORTS VERY LARGE CRUDE DRAW