US asphalt stocks dipped below the five-year range in the week following the Memorial Day holiday, reflecting higherthan- average draws at the start of the summer paving season. Asphalt inventories rose by less than 1pc to 31.9mn bl during the week ending 3 June, according to US Energy Information Administration (EIA) data. That was 3.3pc below the five-year average, or the lowest inventory levels reached during the Memorial Day holiday week since 2015. Asphalt stocks typically rise during that week as paving operations shut down for the holiday weekend, despite climbing seasonal demand.
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