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US crude stocks show surprise build on weakened refinery demand, strong imports

July 7, 2022 Comments Off

US crude oil inventories realized a counter-seasonal build during the week ended July 1 amid flagging refinery demand and stronger imports, US Energy Information Administration data showed July 7. Total US commercial crude stocks climbed 8.23 million barrels in the week ended July 1 to 423.8 million barrels, the EIA said. The counter-seasonal build pushed stocks to an eight-week high…