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 10,270 MBBL last week to 442,057 MBBL from 431,787 MBBL. This is 4% below the 458,997 MBBL that was in storage at this point last year, and is 5% above the five-year average. This week’s build vastly exceeded expectations, as the average analyst prediction called for a build of 2,914 MBBL.

Gasoline inventories decreased by 1.4 MMBBL this week to 226.6 MMBBL. Fuel oil inventories fell by 3.6 MMBBL to 119.3 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 1.4 MMBBL to 1,252.0 MMBBL.

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

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