Oil Rallies as Crude Stock Falls More than Expected, Greece Passes Budget

Total crude oil and petroleum products stocks dropped -0.32 mmb to 1065.08 mmb in the week ended June 24. Crude stockpile declined -4.38 mmb to 359.47 mmb during the week with draws recorded in 3 out of 5 PADDs. Cushing stocks also fell -0.54 mmb to 37.49 mmb. Utilization rate slipped -1.1% to 88.1%.

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Oil Rallies as Crude Stock Falls More than Expected, Greece Passes Budget