Oil Price Retreated as Gasoline Inventory Jumped Unexpectedly

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -11.17 mmb to 1313.63 mmb in the week ended February 5. Crude oil inventory sank -6.65 mmb (consensus: +0.99 mmb) to 469.01 mmb. Stockpile decreased in 4 out of 5 PADDs. PADD 3 (Gulf […]

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