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 1,263 MBBL last week to 447,207 MBBL from 445,944 MBBL. This is 6% above the 420,254 MBBL that was in storage at this point last year, and is 6% above the five-year average. This week’s build was in line with expectations, as the average analyst prediction called for a draw of 1,419 MBBL.

Gasoline inventories increased by 0.5 MMBBL this week to 257.9 MMBBL. Fuel oil inventories fell by 2.3 MMBBL to 139.0 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 3.4 MMBBL to 1,259.0 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced...

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