Crude Oil Dropped After Data Showed A Sizable Increase In U.S. Oil

Crude oil trading range for the day is 3974-4208.

Crude oil dropped after data showed a sizable increase in U.S. oil and gasoline stockpiles last week.

The U.S. EIA said in its weekly report that crude oil inventories increased by 3.0 million barrels in the week ended Feb. 23.

Data from the American Petroleum Institute showed that crude inventories rose by 933,000 barrels in the week to Feb. 23, to 421.2 million barrels.

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