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 7 MBBL last week to 441,418 MBBL from 441,411 MBBL. This is 4% above the 424,463 MBBL that was in storage at this point last year, and is 8% above the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 2,455 MBBL.

Gasoline inventories increased by 6,890 MBBL this week to 239,996 MBBL. Fuel oil inventories rose by 9,529 MBBL to 129,431 MBBL. Overall, petroleum stocks excluding the SPR increased by 14,620 MBBL to 1,242,161 MBBL.

Preliminary data suggests over the past four weeks the U.S. produced 11,650 MBOP...


Legal Notice