While oil was in the midst of a 10-day losing streak over the last two weeks, its price wasn't the only thing declining. For the second straight week, the DoE announced that crude oil stockpiles declined by over 3.5 million barrels, and in both weeks the draw-down has been greater than expected. Today's news has helped to boost the price of oil by over $2. Crude oil inventories remain well above their historical average for this time of year, but they are near their lows of the year. For bulls on the Energy sector, inventories are moving in the right direction.
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