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 3,803 MBBL last week to 408,740 MBBL from 404,937 MBBL. This is 15% below the 481,888 MBBL that was in storage at this point last year, and is 1% below the five-year average. This week’s build exceeded expectations, as the average analyst prediction called for a draw of 2,262 MBBL.

Gasoline inventories dropped by 2.5 MMBBL this week to 231.0 MMBBL. Fuel oil inventories...

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