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U.S. crude inventories rise by 4.4 million barrels in latest EIA data

Commercial crude stockpiles reached 428.8 million barrels for the week ending Aug. 14, about in line with the five-year average.

Reported · Written up by our desk · Energy

U.S. crude oil inventories increased by 4.4 million barrels during the week ending Aug. 14, according to Energy Information Administration data released Wednesday, lifting commercial stockpiles to 428.8 million barrels.

The EIA data came after a day earlier American Petroleum Institute estimate reported crude inventories fell by 328,000 barrels over the same period, adding to the mixed near-term signals from the two datasets.

After the release, crude futures were trading higher in New York, with Brent futures at $91.41 per barrel and WTI at $85.41 in the morning session.

The EIA also reported total motor gasoline inventories climbed 700,000 barrels, while middle distillate inventories decreased by 1.5 million barrels, with distillates now 13.0% below the five-year average.

Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|Gasoline (RBOB) $2.901 ▼7.3%

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