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 5,778 MBBL last week to 438,132 MBBL from 432,354MBBL. This is 15% below the 516,340 MBBL that was in storage at this point last year, and is marginally below the five-year average. This week’s build was a significant surprise, as the average analyst prediction called for a draw of 2,071 MBBL.

Gasoline inventories rose by 1.9 MMBBL this week to 233.9 MMBBL. Fuel oil in...

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