Futures for crude oil slumped more than 2% today even as US stockpiles declined. The Energy Information Administration reported that crude oil inventories shrank by 1 million barrels last week, about as much as analysts had predicted. At the same time, gasoline inventories grew by 1.5 million barrels even though experts had forecast a decline. Markets considered the growth of gasoline reserves as a sign that demand for fuel was lackluster. That drove oil prices down.
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