US petroleum inventory cut 3.5 mln barrels
US Petroleum Association declared that in the week ended July 27, the crude oil inventory stood at 311 mln barrels, down 3.5 mln barrels from the previous week. The market had expected that the crude oil inventory would increase 1.3 m barrels. The gasoline inventory also drop 3 mln to 212 mln barrels. The down-range exceeded the market expectation of 1.25 m barrels.
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