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WTI ($USOIL): Intraday Analysis & Setup update

Crude oil prices saw losses following an unexpected rise in US crude stockpiles, ANZ Bank said in a Thursday note.

The US Energy Information Administration in its weekly inventory report reported a gain of 12 million barrels in commercial stockpiles last week, the most since November. However, a drop of 3.7 million barrels in gasoline inventories helped cap the losses, the bank noted. Jet fuel consumption on a four-week basis rose to a pre-pandemic high of 1.52 million barrels per day.

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