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Anas Alhajji reports that U.S. crude oil inventories declined by 7.9 million barrels to 445 million barrels.
He also notes that the U.S. government increased supplies from the Strategic Petroleum Reserve by 9.9 million barrels. Both gasoline and distillate inventories are now below the 5-year range.
Alhajji previously reported that the U.S. Justice Department launched an investigation into $7 billion of suspicious financial trades. He also noted that Saudi Arabia’s financial losses from conflict have exceeded Aramco's oil profit gains. These events provide additional context to recent U.S. energy inventory changes.