US crude stocks surge past expectations;product inventories shrink

摘要

Combined EIA crude and product inventories decreased over the week ending April 5 by 0.7MM bbl to 813.8MM bbl,due largely to tumbling gasoline levels.Crude oil stocks soared 7.1MM bbl to 456.6MM bbl,eclipsing the anticipated build by threefold and hitting the highest since Nov.2017.Another rise in weekly imports was cited,in part,for the build.On the other hand,crude stocks held at the NYMEX WTI delivery site of Cushing,Oklahoma skidded 1.13MM bbl to 45.99MM bbl.