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  • US oil inventories dropped -2.5m barrels, WTI extending rebound

    US commercial crude oil inventories dropped -2.5m barrels in the week ending March 18, larger than expectation of -0.7m decline. At 413.4m barrels, oil inventories are about -13% below the five year average for this time of year. gasoline inventories dropped -2.9m barrels. Distillate dropped -2.1m barrels. Propane/propylene rose 0.3m barrels. Total commercial petroleum inventories…

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