Commodities Buzz: US crude oil inventories fell by 1.7 million barrels, API reports

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.7 million barrels in the week ending March 6, after adding 5.6 million barrels in the week prior. Gasoline inventories also fell last week, shrinking by 1.8 million barrels in the week ending March 6. In the week prior, gasoline inventories fell by 3.3 million barrels.

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