Mixed Results for Oil Inventories and Prices in the US and Asia
TL;DR
Crude oil inventories in the US rose by 3.262 million barrels, while gasoline and distillate inventories fell. US crude oil production remained steady at 12.2 million bpd. Oil prices traded up on Tuesday after significant losses in the previous week. Gasoline demand was up 7% this past Sunday and Monday compared to the relative four-week averages, and the highest levels since September 25, 2022.
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