This week’s Department of Energy (DOE) statistical survey followed the API report in terms of direction. Both showed a build in crude oil stocks, declines in refined products stocks and a drop in refinery utilization. Where the API had shown a much larger-than-expected build in crude oil inventories, though (a build of 6.5 mln bbls), the DOE showed a milder-than-predicted build of 1.4 million barrels.
[More]