Energy Preview: US crude stocks surge by 6.5 million barrels, API data shows

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a sizeable build of 6.5 million barrels in the week ending October 31, far exceeding expectations for a 2.4 million barrel draw and marking the largest weekly build since early July. Gasoline inventories saw a large decrease of 5.653 million barrels in the week ending October 31, after losing 6.3 million barrels in the week prior.

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