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US Crude Stocks Hit Third-Consecutive Record High

Oil

US crude oil inventories increased by 1.5M bbls w-o-w to a third-consecutive weekly record of 520.2M bbls in the week ending 24 February, according to the US Energy Information Administration (EIA). US crude imports rose by 303K b/d from the prior week to 7.6M b/d, while US crude oil refinery throughputs increased for the first time in seven weeks, rising 393K b/d to 15.7M b/d.