US crude stocks soar,gasoline inventories hit all-time high

摘要

Combined EIA crude and product inventories increased over the week ending Jan.18 by 11.3MM bbl to 847.0MM bbl.Crude oil stocks surged 7.9MM bbl to 445.0MM bbl,hitting an eight-week high.Analysts had anticipated that stocks would be steady on the week.Contributing to the build were.sharply higher imports and a drop in refinery throughput.By contrast,crude stocks held at the NYMEX WTI delivery site of Cushing,Oklahoma fell 190K bbl to 41.33MMbbl.