Huge Draw in Oil Inventories Fails to Arrest Selloff
BonTradeTotal crude oil and petroleum products stocks declined -9.10 mmb to 1106.40 mmb in the week ended November 12. Crude oil inventory plummeted -7.29 mmb, compared with consensus of a -1.20 mmb incrase, to 357.6 mmb as stockpile in Gulf Coast tumbled -6.81 mmb. Cushing stock, however, rose +1.27 mmb for the first time since July 30. Utilization rate climbed +1.6% to 84.0%.
The rest is here:
Huge Draw in Oil Inventories Fails to Arrest Selloff
