Oil Plunges as Gasoline Inventory Unexpectedly Increases

Total crude oil and petroleum products stocks declined -4.62 mmb to 1083.33 mmb in the week ended September 8. Crude stockpile fell -6.70 mmb to 346.38 mmb as 3 out of 5 PADDs recorded stock draws. Cushing stock slipped -0.46 mmb to 32.23 mmb. Utilization rate dipped -2.0% to 87.0%.

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Oil Plunges as Gasoline Inventory Unexpectedly Increases