US Crude Oil Shows Double- Digit 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 23. Crude oil inventory slumped -10.03 mmb to 427.75 mmb (consensus: -2.11 mmb). Inventories decreased in ALL PADDs. PADD 2 (Midwest) alone saw inventory […]

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