Total crude oil and petroleum products stocks jumped +5.34 mmb to 1130.39 mmb in the week ended August 16. The increase was huge compared with a mere +0.14 mmb increase last week. Crude oil inventory slid -0.82 mmb to 354.17 mmb. Draws in the East Coast, the Midwest and the Gulf Coast were partly offset by builds in Rocky Mountain and the West Coast. Cushing stock dropped for a second consecutive, by -0.68 mmb, to 37.04 mmb. Utilization rate rose to 90 after plunging to 88.1%, the lowest level since June 11, in the prior week.
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Oil Slump Accelerates as Crude Inventory Only Dropped Modestly
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