Crude Oil Inventories increased by 1.3 million barrels

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Wednesday, May 18 2016

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.3 million barrels from the previous week. At 541.3 million barrels, U.S. crude oil inventories are at historically high levels for this time of year. Total motor gasoline inventories decreased by 2.5 million barrels last week, but are well above the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week.

Distillate fuel inventories decreased by 3.2 million barrels last week but are well above the upper limit of the average range for this time of year. Propane/propylene inventories rose 1.0 million barrels last week and are above the upper limit of the average range. Total commercial petroleum inventories decreased by 0.7 million barrels last week.

Euro is currently being traded few points above 1.1270 level, Sterling is around 1.46 handle, while Aussie is at 0.7270 area.

More in this category: « Eurozone inflation at -0.2% in April Fed hints at June rate hike »

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