The EIA reported a 14.4 MMBO build to U.S. inventories in the week ended October 28
Just when the industry was feeling a little better about its prospects for the balance of 2016, the U.S. Energy Information Administration (EIA) reported the largest build in crude oil inventories ever recorded this week after surprise draws in eight of the last nine weeks. The draws going back to late August supported crude oil prices in recent weeks, and today’s massive build has quickly turned market sentiment negative. Both WTI and Brent crude are down over...


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