Crude inventory falls by 1.7M barrels for the week ended July 10 – EIA

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Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended July 10: 409.7M barrels. Crude inventory change: -1.7M barrels vs. +3M barrels for the week ended July 03. Gasoline inventory change: -1.5M barrels

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According to the U.S. Energy Information Administration (EIA), crude oil inventories for the week ending July 10 decreased by 1.7 million barrels to 409.7 million barrels. This decline exceeded market expectations, and gasoline stocks also fell by 1.5 million barrels, signaling a recovery in demand. Concerns over supply shortages are expected to exacerbate market imbalances, requiring investors to closely monitor future inventory trends and energy price volatility.

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