FYI: While this week's inventory report was delayed by a day due to Monday's holiday, the number crunchers at the Department of Energy may have needed an extra day just to count it all. While traders were expecting inventories to increase by 2.7 million barrels, the actual increase was nearly four times that at 10.071 million barrels. That is just a huge number for one week and is the largest weekly increase since March 2001, and the 16th largest weekly increase since 1983. For the current week of the year, US crude oil inventories are higher than any year since at least 1983. The next closest year was 2013, when total crude oil inventories were 363.1 million barrels, or 9% below the current level of 397.9 million barrels.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2015/1/22/crude-oil-inventories-see-monster-increase.html?printerFriendly=true
