Oil Prices Rallied Depsite Huge Stock Build, Fed's Testimony Excited the Market
BonTrade***UPDATE: Crude oil inventory rose +3.03 mmb to 337.5 mmb in the week ended February 19. This 4th week of stock build exceeded market expectation of +1.9 mmb, probably due to higher imports and decline in refinery runs. Distillate inventory drew -0.59 mmb, less than market forecast of -1.5 mmb, to 152.7 mmb. Gasoline stockpile, however, decline for the first week in 3 by -0.9 mmb to 231.2 mmb.
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Oil Prices Rallied Depsite Huge Stock Build, Fed's Testimony Excited the Market
