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 6,147 MBBL last week to 404,937 MBBL from 411,084 MBBL. This is 16% below the 483,415 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s draw exceeded expectations, as the average analyst prediction called for a draw of 2,234 MBBL.

Gasoline inventories dropped by 2.3 MMBBL this week to 233.5 MMBBL. Fuel oil inventories ...

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