US oil stocks rise as gasoline drops
U.S. crude oil inventories increased by 3 million barrels to 4.426 million barrels for the week ending September 18, surpassing analysts' expectations of a decline of 641 thousand barrels. At the same time, gasoline inventories fell by 1.7 million barrels to 206 million barrels, amid decreased refining activity in the Midwest region, where refinery operating rates dropped to 86% compared to 100% the previous week. This led to a decline in oil prices following the release of the report.
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