U.S. crude oil stockpiles fell sharply last week and gasoline inventories posted an unseasonably surprise large build as refineries ramped up production, the U.S. Energy Department said on Wednesday. Crude inventories fell 4.1 million barrels in the week to June 24, the sixth consecutive week of drawdowns and bigger than the 2.4 million-barrel drop forecast by analysts and the 3.9 million-barrel fall reported by industry group the American Petroleum Institute late Tuesday. Crude stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures fell 951,000 barrels and imports fell 993,000 barrels per day, the U.S. Energy Information Administration said. Gasoline stocks rose 1.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 58,000-barrel gain. On the East Coast, gasoline stockpiles rose to record levels. “The draw in crude inventories was bigger-than-expected but […]

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