According to the DOE/EIA weekly report, total crude oil and petroleum products stocks climbed +11.08 mmb to 1099.55 mmb in the week ended June 15. Crude stockpile increased +2.86 mmb to 387.30 mmb as stockpiles dropped 3 out of 5 PADDs. Cushing stock rose +0.36 mmb to 47.76 mmb. Utilization rate slipped -0.1% to 91.9%.
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Crude Inventory soared to a 22 Year High
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