US oil inventories dropped -4.5m barrels, WTI range bound

<p>US commercial crude oil inventories dropped -4.5m barrels in the week ending August 7, versus expectation of -3.4m barrels decline. At 514.1m barrels, crude oil inventories are about 15% above the five year average for this time of year. Gasoline inventories dropped -0.7m barrels. Distillate dropped -2.3m barrels. Propane/propylene dropped -2.6m barrels. Total commercial petroleum […]</p>
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