Crude Plummeted as Inventory Soared, FOMC Signals Signaficant Downside Risks

Total crude oil and petroleum products stocks climbed 1.81 mmb to 1064.74 mmb in the week ended October 28. Crude stockpile soared 1.83 mmb to 339.46 mmb as stocks PADD 2 and 5 increased +1.25 mmb and +2.37 mmb respectively. Cushing stock rose +0.56 mmb to 32.07 mmb. Utilization rate rose +0.5% to 85.3%.

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Crude Plummeted as Inventory Soared, FOMC Signals Signaficant Downside Risks