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The American Petroleum Institute said Tuesday that US crude oil inventories fell 816,000 barrels last week, sources said. Gasoline inventories decreased by 1.14 million barrels, while distillate inventories increased by 673,000 barrels. Inventories in Cushing, Oklahoma, the delivery hub for Nymex oil futures, fell 413,000 barrels. The Energy Information Administration will publish the official weekly data on Wednesday morning. Analysts polled by S&P Global Platts on average expect the EIA to show crude inventories fell 600,000 barrels in the week ending August 6, while gasoline inventories are expected to drop of 2.4 million barrels and the distillates are expected to drop by 600,000 barrels. Raw West Texas Intermediate for delivery in September CLU21,
on the New York Mercantile Exchange was trading at $ 68.50 a barrel in ecommerce, up from its previous close at $ 68.29.
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