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OIL STORAGE CRUNCH COULD LOWER CRUDE PRICES EVEN FURTHER

The U.S. is running out of places to stash its overflowing oil supplies, threatening to further drive down crude prices that rebounded in recent days. Supply – including oil produced in the U.S. and imported – has been outpacing U.S. refiners’ demand by about 1 million barrels a day on average since early January, according to the Energy Information Administration, as reported by USA Today.

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