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 fell by 5,836 MBBL last week to 408,358 MBBL from 414,194 MBBL. This is 12% below the 463,165 MBBL that was in storage at this point last year, and is even with the five-year average. This week’s draw exceeded expectations, as the average analyst prediction called for a draw of 5,836 MBBL.

Gasoline inventories increased by 1.2 MMBBL this week to 234.3 MMBBL. Fuel oil inventori...

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