US Crude Oil Inventory Gained Last Week, In Contrast to API’s Estimate of Sharp Fall

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -0.85 mmb to 1296.69 mmb in the week ended September 27. Crude oil inventory added +3.1 mmb to 422.64 mmb (consensus: +1.57 mmb). Inventories increased in 3 out of 5 PADDs. Cushing stock dropped […]

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