US Crude Oil Inventory Resumed Decline

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +4 mmb to 1315.23 mmb in the week ended August 16. Crude oil inventory declined -2.73mmb to 437.78 mmb (consensus: -1.89 mmb). Inventories decreased in 3 out of 5 PADDs. PADD 2 (Midwest) alone […]

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