Crude inventories at Cushing rose to the highest since April at 28.16mbbls in the weekly EIA data released today. The build is on the back on steady imports from Canada and relatively low PADD 2 refinery utilisation.

The WTI-Brent spread remains steady after the EIA data but has closed in from -8.5$/bbl to -7.3$/bbl over the last week as SPR releases have reduced. The SPR fell -1.9mbbls this week compared weekly draws of between about -6mbbls and -8mbbls during September.

Source: MNI / EIA

Bullet Energy Bullets Homepage Commodities US

David Lee

Bullet Energy Bullets Homepage Commodities US

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Cushing Stocks Increase to Highest Since April