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 1,351 MBBL last week to 407,389 MBBL from 408,740 MBBL. This is 14% below the 475,437 MBBL that was in storage at this point last year, and is 1% below the five-year average. This week’s draw fell short of expectations, as the average analyst prediction called for a draw of 2,164 MBBL.

Gasoline inventories increased by 2.9 MMBBL this week to 233.9 MMBBL. Fuel oil inven...

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