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 1,680 MBBL last week to 439,738 MBBL from 441,418 MBBL. This is 5% above the 419,515 MBBL that was in storage at this point last year, and is 8% above the five-year average. This week’s build was in line with expectations, as the average analyst prediction called for a draw of 1,743 MBBL.

Gasoline inventories increased by 8.1 MMBBL this week to 248.1 MMBBL. Fuel oil inventories rose by 10.6 MMBBL to 140.0 MMBBL. Overall, petroleum stocks excluding the SPR increased by 13.3 MMBBL to 1,255.4 MMBBL.

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

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