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Oil Rises as U.S. Stockpile Jump Takes Back Seat to Fears Over Saudi Attacks

The IEA estimated growth in global oil demand to average 1. crude stockpiles surged more than 8 million barrels last week versus a drawdown expected by the market. In the previous week, crude inventories fell by almost 4 million barrels. In the earlier week to May 3, gasoline inventories fell by almost 600,000. “There was also a large increase in crude oil inventories at the Cushing, Okla.

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