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Mar 13, 2025
Lower gasoline and distillate inventories boost oil gains
The U.S. Department of Energy (DOE) released its weekly oil inventory report yesterday, which showed unexpected changes in inventory levels. Crude oil inventories increased less than expected, while gasoline and distillate inventories saw larger-than-expected declines.
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Oil prices rose following the report's release, as sharp declines in gasoline and distillate inventories reinforced expectations of continued strong demand, which had a positive impact on price movement.