According to the U.S. Energy Information Administration, crude oil inventories rose 7.1 million barrels. The inventory increase worked to drive crude oil prices lower in trading. The increase exceeded analyst expectations of a much lower 2.2 million barrel rise in inventory levels. Gasoline inventories went in the opposite direction and fell 3.5 million barrels. Analysts had expected a decrease of only 1.5 million barrels.
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Jim Sutliff