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US crude oil stocks fall 7.5 million barrels: API
[NEW YORK] US crude stocks fell last week as refineries reduced crude runs, while gasoline inventories decreased and distillate stocks rose, data from industry group the American Petroleum Institute (API) showed on Tuesday.
Crude inventories fell by 7.5 million barrels in the week ended June 21 to 474.5 million, compared with analysts' expectations for a decrease of 2.5 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels, API said.
Refinery crude runs fell by 7,000 barrels per day, API data showed.
Gasoline stocks fell by 3.2 million barrels, compared with analysts' expectations in a Reuters poll for a 288,000-barrel gain.
Distillate fuels stockpiles, which include diesel and heating oil, rose by 155,000 barrels, compared with expectations for a 522,000-barrel gain, the API data showed.
US crude imports fell last week by 740,000 barrels per day to 6.9 million bpd.