Decline in Petroleum Stockpiles Fails to Lift Prices Much

Total crude oil and petroleum products stocks fell sharply, by -5.11 mmb, to 1138.81 mmb in the week ended September 24, driven by inventory draws in crude as well as major oil products Crude oil inventory dropped -0.48 mmb to 357.56 mmb although only the East Coast and the Midwest regions recorded falls. Cushing stock sipped for an 8th week, by -0.40 mmb, to 34.35 mmb. Impact of shutdown of the Enbridge pipeline 6A faded.

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Decline in Petroleum Stockpiles Fails to Lift Prices Much