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Investing.com - US crude oil stockpiles possibly fell as much as 4.0 million barrels last week while inventories of gasoline likely rose by an almost similar level of 3.9 million, as refiners appeared to maximize fuel production due to lucrative returns, petroleum trade group API reported Tuesday.
The U.S. crude inventory balance fell by 4.21M barrels during the week ended Sept. 29, according to the API, after a build of 1.586M in the prior week to Sept. 22.
Aside from that balance, the API also noted a 0.705M barrel rise at the Cushing, Oklahoma delivery point for U.S. crude, versus the previous week’s draw of 0.828M. Last week’s build would be the first in months for Cushing, where the trade had feared inventories would fall to such critically low levels that would complicate withdrawals from the storage hub.
The House on Tuesday voted to oust Kevin McCarthy from the speakership, a move without precedent in modern history that left the chamber without a leader and plunged it into chaos.
Democrats joined with a small group of hard-liners in Mr. McCarthy’s own party to strip the California Republican of the speaker’s gavel in a 216 to 210 vote. It was the culmination of a bitter power struggle between Mr. McCarthy and members of a far-right faction who tried to block his ascent to the speakership in January and have tormented him ever since, trying to stymie his efforts to keep the government funded and the nation from defaulting on its debt.
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