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Crude oil inventories at Cushing, Oklahoma fell by 1.314 million barrels, turning negative after the previous period posted a build of 1.611 million barrels.
A build means inflows to the hub exceeded outflows during a reporting window; a draw means the opposite.
Cushing is the designated delivery point for West Texas Intermediate crude futures, the benchmark that most American oil prices against, which means the level of crude held there is a direct mechanical input to that benchmark price.
What the swing means for the price curve Crude arrives at Cushing by pipeline from production regions across the mid-continent.
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