Crude Inventory Dropped -5 mmb while Oil Product Stockpiles Rose
BonTradeTotal crude oil and petroleum products stocks rose +0.36 mmb to 1101.5 mmb in the week ended July 2. Crude oil inventory dropped -4.96 mmb to 358.2 mmb. All 5 districts recorded draws during the week with the biggest decline in the West Coast, by -1.97 mmb. Cushing stock fell -0.18 mmb. Utilization rate increased +1.4% to 89.8%, the highest level since January 2008.
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Crude Inventory Dropped -5 mmb while Oil Product Stockpiles Rose
