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 7,029 MBBL last week to 456,550 MBBL from 449,521 MBBL. This is 7% above the 428,638 MBBL that was in storage at this point last year, and is 1% above the five-year average. This week’s build exceeded expectations, as the average analyst prediction called for a build of 2,438 MBBL.

Gasoline inventories decreased by 7.7 MMBBL this week to 229.1 MMBBL. Fuel oil inventories fell by 0.1 MMBBL to 128.1 MMBBL. Overall, petroleum stocks excluding the SPR increased by 4.1 MMBBL to 1,233.3 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 12,150...

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