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US oil inventories reportedly up by 0.5M barrels
Crude oil inventories in the United States rose by 509,000 barrels in the week that ended May 3, private data from the American Petroleum Institute (API) allegedly showed on Tuesday.
Meanwhile, reserves in Cushing, Oklahoma, allegedly grew by 1.33 million barrels. Gasoline stockpiles added 1.46 million barrels, while distillate inventories increased by 1.71 million barrels, according to the reported data.