US Crude Inventory Declined, While Petroleum Stockpiles Soared

<p>The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -1.66 mmb to 1343.7 mmb in the week ended January 1. Crude oil inventory fell -8.01 mmb (consensus: -2.13 mmb) to 485.46 mmb. Stockpile decreased in ALL 5 PADDs. PADD 3 (Gulf Coast) alone [&#8230;]</p>
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