Crude oil inventories rose 2.35 MMBO last week
Crude oil inventories grew by 2.35 million barrels in the week ended January 13, 2017, according to the EIA. Economists were expecting a build of approximately 0.13 MMBO, according to information compiled by Bloomberg, but the effects of the larger than anticipated gains were offset some by a draw in Cushing, Oklahoma.

Supplies at Cushing, the delivery point for West Texas Intermediate oil, fell by 1.27 MMBO last week, the EIA said in its report. The total amount of crude in storage at Cushing ...

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