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Oil prices hold gains as EIA reports a 6.9 million-barrel weekly fall in U.S. crude supplies

“The EIA data showed weekly supply decline of 700,000 barrels for gasoline, while distillate stockpiles climbed by 2.7 million barrels” writes Markets Commodities Reporter for marketwatch.com. The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 6.9 million barrels for the week ended Sept. 6.On average, analysts polled by S&P Global Platts forecast a fall of 3.6 million barrels, while the American Petroleum Institute on Tuesday reported a drop of 7.2 million barrels, according to sources.The S&P Global Platts survey had forecast an inventory loss of 1.4 million barrels for gasoline, but expected a rise of 220,000 barrels in distillate stockpiles.
 
Source: marketwatch.com



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