Total crude oil and petroleum products stocks increased +2.68 mmb to 10.98 mmb in the week ended June 18. Crude oil inventory rose +2.02 mmb, compared with consensus of a -0.8 mmb dip, to 365.1 mmb during the week with gains coming mainly from Gulf Coast. Utilization rate surged to 89.4%, the highest level since April 30 2010 (89.59%).
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Crude Oil Tumbles as Inventory Surged, New Home Sales at Record Low
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