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202 days

Oil prices decline after industry data shows rise in crude inventories - MarketWatch

1. Crude inventories rose by 2.9 million barrels last week. 2. Gasoline stocks increased by 1.9 million barrels. 3. Distillate stocks, including heating oil, fell by 3.8 million barrels. 4. Analysts expect a 2.6 million barrel gain in crude inventories. 5. EIA's upcoming data could validate the API report's findings.

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FAQ

Why Bearish?

Increased inventories typically lead to lower oil prices. A similar previous situation saw prices drop significantly.

How important is it?

The article discusses inventory changes, which are crucial for CL00 pricing. Inventory levels are a key indicator of supply-demand dynamics.

Why Short Term?

Immediate market reactions to inventory changes affect short-term prices. Past reports influenced price movements within days.

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