API: Drop in US Crude Oil Stocks, But Surprise Gasoline Build

U.S. crude oil inventories are down just over 1 million barrels for the week ended 12 August, according to the weekly American Petroleum Institute (API) report, but U.S. gasoline inventories are up over 2 million barrels in the biggest increase in six months. Cushing crude inventories were down 680,000 barrels. Earlier today, crude oil rallied to a one-month high, but slid back down following the release of the API data. West Texas Intermediate (WTI) for September delivery closed at US$46.58 on the New York Mercantile Exchange, but was down to…

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API: Drop in US Crude Oil Stocks, But Surprise Gasoline Build

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