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EIA Says Crude Inventories Down Sending Oil Futures, Stocks Soaring

The U.S Energy Information Agency released its weekly domestic crude oil inventories Wednesday morning, noting stocks have decreased 2.5 million barrels week-over-week, but at 521.1 million barrels overall, U.S. supplies remain at historically high levels for August, according to the agency.

West Texas Intermediate crude futures spiked on the news of decreasing stockpiles after the falling below $46 per barrel leading into the 10:30 a.m. announcement. WTI futures...


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