Oil Slips as U.S. Crude Stockpiles Surge Most in 14 Years
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Oil fell after a government report showed that U.S. crude supplies surged the most in almost 14 years.
Inventories rose 10.1 million barrels in the week ended Jan. 16, the biggest gain since March 2001, according to the Energy Information Administration. Refineries operated at 85.5 percent of their capacity, the lowest level since April 2013 as units were idled for maintenance.