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OverviewAPI
A surprising increase in U.S. crude oil inventory of 7.3 MMbbl caused a sharp decline in prompt crude prices, with West Texas Intermediate and Brent crude prices falling by nearly $3/bbl. Gulf Coast exports decreased to 3.9 MMb/d, and refinery utilization rates in the region dropped. PADD 2 in Cushing, OK, saw an inventory rise of 1.1 MMbbl.

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