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 1,071 MBBL last week to 427,567 MBBL, from 428,638 MBBL. This is 20% below the 532,343 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a build of 394 MBBL.

Gasoline inventories fell by 3.0 MMBBL this week, dropping to 236.0 MMBBL. Fuel oil inventories...

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