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US Crude Oil Inventories Continue to Fall Despite Glut Narrative
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Why This Matters
US crude oil inventories have fallen by 4 million barrels, exceeding expectations, and have shown a net loss of 6.4 million barrels for the year, indicating a decrease in the oil glut narrative.
Market Impact
Market impact analysis based on bullish sentiment with 80% confidence.
Sentiment
Bullish
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Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large dip of 4 million barrels in the week ending October 24, when analysts had expected oil inventories to contract by a smaller 2.9 million barrels. Crude oil inventories in the United States are so far showing a net loss of 6.4 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have…
Original article published by
OilPrice.com
on October 28, 2025.
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