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US crude stocks fall as imports tumble

Oil

US crude stocks fell by 5.5M bbls w-o-w to a five-month low of 450.8M bbls in the week ending 21 August, according to the US Energy Information Administration. US crude imports were down by 839K b/d from the prior week to an average of 7.2M b/d. Over the last four weeks imports have averaged 1.7% less y-o-y. US crude runs slipped by 117K b/d w-o-w to 16.7M b/d.