Commodities Buzz: US crude oil inventories up 2.5 millon barrels

The US crude oil stockpiles rose by 2.5 million barrels to reach 407 million barrels during the week that ended on July 31, the Energy Information Administration reported Wednesday. Crude stocks at the Cushing, Oklahoma delivery hub climbed by 2.4 million barrels during the same period. The US refinery crude runs decreased by 183,000 barrels per day, while utilization rates fell by 0.7 percentage points to 96.5% for the week.

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