FYI: Crude oil inventories surged by more than 9 million barrels this week, and that was more than triple what traders were expecting. While it is normal for crude oil stockpiles to rise at this time of year, the current pace of increase has been much more than normal. Total stockpiles are up at another multi-decade high and are currently more than 195 million barrels above the average for this time of year dating back to 1983. That’s 54% above average!
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/crude-oil-inventories-surge/
