Crude Oil Inventories decreased by 4.2 million barrels

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Wednesday, May 25 2016

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.2 million barrels from the previous week. Analysts were expecting decrease by 1.7 million barrels. At 537.1 million barrels, U.S. crude oil inventories are at historically high levels for this time of year. Total motor gasoline inventories increased by 2.0 million barrels last week, and are well above the upper limit of the average range.

Finished gasoline inventories remained unchanged while blending components inventories increased last week. Distillate fuel inventories decreased by 1.3 million barrels last week but are well above the upper limit of the average range for this time of year. Propane/propylene inventories fell 0.1 million barrels last week but are above the upper limit of the average range. Total commercial petroleum inventories decreased by 0.9 million barrels last week.

Euro is currently being traded few points above 1.1160 level, Sterling is around 1.47 handle, while Aussie is at 0.712 area.

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