
Weekly Oil Storage: Unexpected Build
The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks rose by 5,836 MBBL last week to 411,084 MBBL from 405,248 MBBL. This is 16% below the 490,623 MBBL that was in storage at this point last year, and is 2% below the five-year