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 fell by 5,914 MBBL last week to 426,527 MBBL from 432,441 MBBL. This is 16% below the 509,095 MBBL that was in storage at this point last year, and is 1% below the five-year average. This week’s draw exceeded expectations, as the average analyst prediction called for a draw of 2,429 MBBL.

Gasoline inventories rose by 3.3 MMBBL this week to 240.0 MMBBL. Fuel oil inventories ros...


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