Data from the Energy Information Administration showed a larger-than-expected drop in gasoline inventories, while crude inventories saw another big rise. The EIA said U.S. crude inventories jumped 5 million barrels in the week ended August 5, while gasoline supplies fell 5 million barrels and distillate supplies rose 2.2 million barrels. The EIA data also showed that refinery utilization surged to 94.3% versus expectations for 91.8%.Powered by Commodity Insights
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