US Crude Oil Inventory Gained Further, While Petroleum Products Continued to Drop

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -0.83 mmb to 1288.4 mmb in the week ended October 9. Crude oil inventory added +2.93 mmb to 425.57 mmb (consensus: +1.41 mmb). Inventories jumped +5.64 mmb in PADD 3 (Gulf Coast) alone. Cushing […]

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