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US oil inventories reportedly down by 3.1M barrels
Crude oil inventories in the United States decreased by 3.1 million barrels in the week that ended May 10, private data from the American Petroleum Institute (API) allegedly showed on Tuesday.
Meanwhile, reserves in Cushing, Oklahoma, allegedly declined by 601,000 barrels. Gasoline stockpiles fell by 1.27 million barrels, while distillate inventories rose by 349,000 barrels, according to the reported data.