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The American Petroleum Institute (API) has estimated a huge surprise crude oil inventory build of 4.7 million barrels for the week ending December 11, compared to analyst expectations of a 1.288-million-barrel draw in inventory. Last week saw a build in crude oil inventories of 1.41 million barrels, according to API data. The EIA’s estimates reported a smaller build of 800,000 barrels for that week. After today’s reported inventory move, the net inventory moves so far this year—almost the end of the year–stand at a build of 3.22…

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