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 1,208 MBBL last week to 441,954 MBBL from 443,162 MBBL. This is nearly even with the 442,986 MBBL that was in storage at this point last year, and is 6% above the five-year average. This week’s draw fell short of expectations, as the average analyst prediction called for a draw of 3,168 MBBL.

Gasoline inventories increased by 2.1 MMBBL this week to 228.3 MMBBL. Fuel oil inventories fell by 1.5 MMBBL to 124.1 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 6.0 MMBBL to 1,239.9 MMBBL.

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

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