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EIA, API Diverge Again On Oil Inventories Numbers

Crude inventories fell by 1.4 million barrels in the week to May 11, compared with expectations for a decrease of 750,000 barrels.

Once again, the government's data was in contrast to the weekly industry report from the American Petroleum Institute.

The API reported Tuesday that U.S. crude supplies rose by nearly 4.9 million barrels for the week ended May 11.

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