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Weekly ARA Crude Inventories Rose Well Above 5-Year Average

OIL

Crude inventories in the European ARA region rose 627kbbl in week ending 16 June according to the latest Genscape data.

  • Crude stocks have been increasing since mid-May bringing stock levels up to 60.3mbbls, well above the five-year average of 54.59mbbls.
  • The weekly build slowed down from 2.7mbbls in the previous week.

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