Total crude oil and petroleum products stocks tumbled -11 mmb to 1115.51 mmb in the week ended November 5. This is the lowest level since July 23, 2010. Crude oil inventory plunged -3.27 mmb to 364.88 mmb as 3 out of 5 PAD districts recorded decline in stockpiles. The Midwest district showed -2.69 mmb drop while Gulf Coast and West Coast recorded draws of -1.28 mmb and -0.13 mmb respectively. Cushing stock slumped -1.75 mmb, the deepest weekly fall since September 2009. Utilization rate climbed +0.6% to 82.4%.
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Crude Rebounded as Oil Inventories Tumble
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