Total crude oil and petroleum products stocks rose +0.09 mmb in the week ended October 1, driven by increase in crude oil inventory. Crude oil inventory soared +3.09 mmb to 360.95 mmb as stock-builds were seen in East Coast, Midwest and Gulf Coast. Cushing stock rose for the first time in 9 weeks, by +0.75 mmb, to 35.09 mmb. Utilization rate plummeted to 83.1%, the lowest level since March 26, 2010.
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Oil Strengthens after Inventory Report
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