US Inventory Report Shows Abundant Oil Supplies
BonTradeAccording to the DOE/EIA weekly report, total crude oil and petroleum products stocks climbed +2.60 mmb to 1102.14 mmb in the week ended June 22. Crude stockpile decreased -0.13 mmb to 387.17 mmb as stockpiles dropped 4 out of 5 PADDs. Cushing stock slipped -0.34 mmb to 47.42 mmb. Utilization rate added +0.7% to 92.6%.
