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US Crude Stocks Rise To 5-Month High

Oil

US crude oil inventories increased by 6.5M bbls w-o-w to a 5-month weekly high of 494.8M bbls in the week ending 27 January, according to the US Energy Information Administration (EIA). To highlight the crude build in recent years, compared to the same week in 2015, stocks were up by 23.4M bbls, and compared to the same week in 2014, stocks were up by more than 115M bbls.