US Oil Inventory Stabilized after Weeks of Stockbuilds

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 18. Crude oil inventory dropped -1.7 mmb to 433.15 mmb (consensus: +2.23 mmb). Inventory in PADD 3 (Gulf Coast) declined 3.71 mmb. Cushing stock […]

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