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 3,217 MBBL last week to 426,004 MBBL from 422,787 MBBL. This is 6% below the 454,906 MBBL that was in storage at this point last year, and is 3% above the five-year average. This week’s build was in line with expectations, as the average analyst prediction called for a build of 3,523 MBBL.

Gasoline inventories increased by 1.9 MMBBL this week to 228.0 MMBBL. Fuel oil inventories fell by 3.5 MMBBL to 122.9 MMBBL. Overall, petroleum stocks excluding the SPR increased by 4.8 MMBBL to 1,253.4 MMBBL.

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

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