Stock response

摘要

Crude and product inventories in the US, EU 16 and Japan rose by 90mn bl in the first half of this year.A 780,000 b/d build in the first quarter preceded a 210,000 b/d increase in the second quarter, when crude stocks in the US began to fall. Onshore stocks in the US, EU 16 and Japan are at their highest since October 2006, and at an 11-year high for this time of year. This excludes oil stored in tankers offshore, mainly in Europe and the US Gulf. Some 70mn-80mn bl of crude is in floating storage - down from over 100mn bl three months ago - while offshore middle distillate stocks are building and have surpassed the 45mn bl mark.