Commodities Buzz: US Crude oil inventories up around 2 million barrels

The US crude oil inventories jumped by around 2 million barrels in the week ended July 17, data from Energy Information Administration (EIA) showed today. The crude stocks at the Cushing, Oklahoma, delivery hub slipped by 674 thousand barrels in the week. US gasoline stocks rose by 765 thousand barrels in the week, versus expectations for a 1.54 million-barrel draw. Distillate stockpiles, which include diesel and heating oil, also rose by 1.395 million barrels.

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