The Energy Information Administration (EIA) released its weekly report today on the status of petroleum inventories in the United States. Here are some highlights: CRUDE OIL INVENTORIES: Crude oil inventories increased by 4.0 million barrels (MMbbl) to a total of 420.6 MMbbl. At 420.6 MMbbl, inventories are 9.0 MMbbl below last year (2.1%) and are 2% below the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, fell 2.4 million barrels to a total of 25.0 million barrels. The Strategic Petroleum Reserve (SPR) rose 0.3 million barrels (0.1%) from the prior week and stands at 350.6 million barrels, 19.2% below the year ago level.
Trifecta Hit: Rise In Crude Oil, Gasoline, Distillate Inventories, Gasoline Demand Plummets
Trifecta Hit: Rise In Crude Oil, Gasoline…
Trifecta Hit: Rise In Crude Oil, Gasoline, Distillate Inventories, Gasoline Demand Plummets
The Energy Information Administration (EIA) released its weekly report today on the status of petroleum inventories in the United States. Here are some highlights: CRUDE OIL INVENTORIES: Crude oil inventories increased by 4.0 million barrels (MMbbl) to a total of 420.6 MMbbl. At 420.6 MMbbl, inventories are 9.0 MMbbl below last year (2.1%) and are 2% below the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, fell 2.4 million barrels to a total of 25.0 million barrels. The Strategic Petroleum Reserve (SPR) rose 0.3 million barrels (0.1%) from the prior week and stands at 350.6 million barrels, 19.2% below the year ago level.