OGJ Newsletter

Market MovementUS exerts effort to build petroleum inventoriesEnergy futures prices retreated last week on midweek reports of large builds in US inventories of crude, gasoline, and distillates. But that build was achieved only through maximum effort, an analyst reported.The American Petroleum Institute reported US crude stocks jumped by 1.99 million bbl to 288.4 million bbl during the week ended May 30, while gasoline inventories shot up by 3 million bbl to 209.7 million bbl, and distillate stocks increased by 2.1 million bbl to 105.3 million bbl. The US Energy Information Administration recorded an even bigger increase in US crude stocks for that period, up 2.8 million bbl to 289 million...

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