Oil Inventory – Market Ignored Huge Jump in US Stockpile

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -1.59 mmb to 1286.81 mmb in the week ended October 11. Crude oil inventory jumped +9.28 mmb to 434.85 mmb (consensus: +2.88 mmb). Inventories increased in ALL PADDs. PADD 3 (Gulf Coast) alone saw […]

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