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 1,616 MBBL last week to 420,479 MBBL, from 422,095 MBBL. This is 19% below the 518,683 MBBL that was in storage at this point last year, and is 2% above the five-year average. This week’s draw was above expectations, as the average analyst prediction called for a build of 2,355 MBBL.

Gasoline inventories rose by 0.3 MMBBL this week, increasing to 249.3 MMBBL. Fuel oil ...

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