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The American Petroleum Institute reportedly shows a surprise build of 914K barrels of oil in U.S. commercial stockpiles for the week ending June 21.
Gasoline inventories reportedly show a build of 3.84M barrels for the week, distillate inventories show a draw of 1.18M barrels, and stockpiles at the Cushing, Oklahoma, storage hub show a draw of 350K barrels.
The Energy Information Administration will release its weekly U.S. petroleum supply report Wednesday morning; on average, analysts forecast the report will show a decrease of 2.3M barrels in commercial crude oil stockpiles, a decrease of 1.2M barrels in gasoline inventories, and a decrease of 300K barrels in distillate stocks, according to consensus estimates from a survey by The Wall Street Journal.
August WTI crude oil (CL1:COM) recently traded at $80.78/bbl after settling Tuesday at $80.93/bbl.
ETF: (NYSEARCA:USO)
