Oil Drops Despite Inventory Draw
SylviaHunt30Total crude oil and petroleum products stocks plunged -8.24 mmb to 1079.42 mmb in the week ended August 5. Crude stockpile surprisingly declined for the first time in 3 weeks, by -5.23 mmb, to 349.75 mmb as stock drew in 4 out of 5 PADDs. Cushing stock slipped – 1.37 mmb to 34.58 mmb. Utilization rate added +0.7% to 90.0%.
Original post:
Oil Drops Despite Inventory Draw
