Crude Tumbles Despite Declines in Total Petroleum Inventories
BonTradeTotal crude oil and petroleum products stocks slumped -5.46 mmb to 1127.32 mmb in the week ended October 29. This is the lowest level since August 2010. Although crude oil inventory rose +1.95 mmb to 368.16 mmb, fuel stockpiles dropped further. Crude stock builds last week concentrated in the Gulf Coast (+1.25 mmb) and the West Coast (+3.05 mmb) while the East Coast, Midwest and Rocky Mountain all recorded dips. Utilization rate fell -1.9% to 81.8% after rising over the past 2 weeks.
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Crude Tumbles Despite Declines in Total Petroleum Inventories
