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US crude oil reserves decreased by 1.5 million barrels in the week to July 28, the Energy Information Administration reported in its weekly report. The amount is less than expected. The market analysts forecast a decline of about 3 million barrels, and a day earlier, the US Petroleum Institute reported a 1.8 million barrel growth.

The reserves at the Cushing Storage in Oklahoma, which is considered a WTI distribution center, fell by 39,000 barrels last week.

The total US oil reserves are at the level of 481.9 million barrels, which the authorities believe is in the upper half of the average range at this time of year.

Gasoline reserves dropped by 2.5 million barrels against expectations of a decline of 0.6 million barrels.

Following the publication of the report, oil first fell, but then returned to green territory. The US light WTI crude oil rose by 0.37% to 49.34 USD per barrel, while the European benchmark Brent oil rose by 0.46% to 52.02 USD per barrel.

