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US crude inventories reach highest level on record last week: EIA

[NEW YORK] US crude inventories rose by 8.4 million barrels last week, climbing to 494.2 million barrels, the highest on record, according to data released Wednesday by the US Energy Information Administration.

US gasoline inventories in the Midwest rose by 433,000 barrels to 58.9 million barrels, the highest overall volumes since February of 2010, federal data shows.