WRONG TRIFECTA: OIL, GASOLINE, DISTILLATE INVENTORIES ALL DROP, LIKELY TO PUSH GAS PRICES UP
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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 decreased by 2.5 million barrels (MMbbl) to a total of 457.1 MMbbl. At 457.1 MMbbl, inventories are 6.2 MMbbl below last year (-1.3%) and are 4% below the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, rose 0.3 million barrels to a total of 34.1 million barrels. The Strategic Petroleum Reserve (SPR) rose 400,000 barrels from the prior week and stands at 370.9 million barrels, 6.0% above the year-ago level.
WRONG TRIFECTA: OIL, GASOLINE, DISTILLATE INVENTORIES ALL DROP, LIKELY TO PUSH GAS PRICES UP
WRONG TRIFECTA: OIL, GASOLINE, DISTILLATE…
WRONG TRIFECTA: OIL, GASOLINE, DISTILLATE INVENTORIES ALL DROP, LIKELY TO PUSH GAS PRICES UP
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 decreased by 2.5 million barrels (MMbbl) to a total of 457.1 MMbbl. At 457.1 MMbbl, inventories are 6.2 MMbbl below last year (-1.3%) and are 4% below the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, rose 0.3 million barrels to a total of 34.1 million barrels. The Strategic Petroleum Reserve (SPR) rose 400,000 barrels from the prior week and stands at 370.9 million barrels, 6.0% above the year-ago level.