Total crude oil and petroleum products stocks jumped +4.31 mmb to 1069.88 mmb in the week ended July 8. Crude stockpile fell for a 6th consecutive week, by -3.12 mmb, to 355.46 mmb during the week as mainly driven by the draw in Gulf Coast (-4.44 mmb). Cushing stocks, however, climbed +0.62 bmmb to 37.65 mmb. Utilization rate slipped to 88.0%.
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Crude Inventory Declined More than Expected
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