Energy Preview: US crude inventories jumped by 7.4 million barrels, API data shows

US crude and gasoline stocks rose while distillate inventories fell last week, API figures on Wednesday showed. Crude stocks rose by 7.36 million barrels in the week ended October 10 and gasoline inventories increased by 2.99 million barrels, while distillate inventories fell by 4.79 million barrels from a week earlier. While lower distillate inventories point to stronger demand for diesel, a buildup in crude oil and gasoline stocks suggests demand in the U.S., the world's top oil consumer, remains sluggish. WTI crude oil continues to stay sluggish under $59 per barrel mark.

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