U.S. oil stocks drop to their lowest level since October 2018

Data from the US Energy Information Administration showed today, Wednesday, that crude oil inventories in the United States fell by 3.5 million barrels last week to 413.96 million barrels, the lowest level since October 2018.

According to the data, refinery operating rates in the US East Coast region increased last week to 93%, the highest level since May 2019.

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