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Crude Inventory Dropped but Total Oil Stocks Surged to 20-year High

Total crude oil and petroleum products stocks jumped +6.10 mmb to 1124.5 mmb in the week ended July 30. The 8th consecutive weekly gain has pushed total crude and oil products inventories to the highest level since September 1990. Crude oil inventory declined -2.78 mmb to 358 mmb as led -3.76 mmb fall in the Gulf Coast and a -2.48 mmb drop in the East Coast.

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Crude Inventory Dropped but Total Oil Stocks Surged to 20-year High

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