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US oil inventories fall more than expected (USO, WTI, OIL, VDE)

US oil inventories fell by 3 million barrels last week, according to the Energy Information Administration. Analysts had estimated that stockpiles rose by 2.56 million. Stockpiles at Cushing, Oklahoma, a key delivery hub rose by 569,000 barrels. Gasoline inventories also increased, by 220,000 barrels. The EIA's release followed data from the American Petroleum Institute on Tuesday which showed a draw by 7.
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