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 1,245 MBBL last week to 417,881 MBBL from 416,636 MBBL. This is 17% below the 502,914 MBBL that was in storage at this point last year, and is 2% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 5,174 MBBL.

Gasoline inventories dropped by 1.5 MMBBL this week to 239.7 MMBBL. Fuel oil inventories rose b...

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