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US crude stocks tumble by 4 million barrels last week
Official data from the Energy Information Administration showed commercial crude stocks fell by 3.7 million barrels in the week ending July 10, the fourth decline in a row, passing estimates of a drop of 2.6 million barrels.
According to the data, official US stocks are now down to 436.6 million barrels, the lowest since early February, and a positive sign for demand in the US.
Wall Street driven lower by tech pressure
US stock indices fell on Wednesday under pressure on the tech sector as investors assess earnings.
MoreOil prices hold their ground after US inventory drawdown
Global oil prices rose on Wednesday in American trade for the first time in five sessions, holding above six-week lows, after a drop in US crude stocks.
MoreBitcoin moves higher towards 6-week high as US yields decline
Bitcoin rose on Wednesday and resumed its gains after a two-day hiatus, moving towards six-week highs as US 10-year treasury yields declined.
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