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API data said to show large drop in U.S. crude inventories

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The American Petroleum Institute, an industry trade group, reported Tuesday afternoon that U.S. crude-oil inventories fell by 8.15 million barrels last week, according to a source who cited the data. API also saw gasoline inventories rose by 2.42 million barrels, while distillate supplies were up 428,000 barrels, the source said.

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