According to the DOE/EIA weekly report, total crude oil and petroleum products stocks gained +1.06 mmb to 1075.03 mmb in the week ended May 18. Crude stockpile increased +0.88mmb to 382.53 mmb as stockpiles 4 out of 5 PADDs. Cushing stock alone added +1.67 mmb to 46.80 mmb. Utilization rate decreased -0.2% to 88.1%.
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Oil Prices Remain Pressured Despite Less than Expected Inventory Gains
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