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 5,479 MBBL last week to 460,633 MBBL from 455,154 MBBL. This is 7% above the 429,737 MBBL that was in storage at this point last year, and is 1% above the five-year average. This week’s build significantly exceeded expectations, as the average analyst prediction called for a build of 811 MBBL.

Gasoline inventories decreased by 2.1 MMBBL this week to 225.8 MMBBL. Fuel oil inventories fell by 0.7 MMBBL to 127.0 MMBBL. Overall, petroleum stocks excluding the SPR increased by 8.8 MMBBL to 1,244.6 MMBBL.

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

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