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U.S. oil inventories decreased by 17.2 million barrels last week, reaching their lowest level since March 1985, amidst ongoing repercussions of the war with Iran and rising oil demand. Commercial stocks also declined by 8.3 million barrels, while refinery utilization rates increased to 96.7%. The surge in fuel demand, particularly for gasoline, led to an increase in petroleum product consumption by 85,000 barrels per day.
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