On oil inventory, the DOE/EIA reported that total crude oil and petroleum products stocks decreased -1.18 mmb to 1115.13 mmb in the week ended May 31. Crude stockpile dropped -6.27 mmb to 391.89 mmb as inventory fell in all 5 PADDs. Cushing stock slid -0.48 mmb to 50.02 mmb.
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Crude Inventory Plunged 6 Million Barrels as Stock Declined in All 5 PADDs
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