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Crude stockpiles at Cushing climb to highest in over a year: EIA

Crude stockpiles at Cushing climb to highest in over a year: EIA© Reuters. A sign built out of a pipeline that reads “pipeline crossroads of the world” welcomes visitors to town in Cushing

NEW YORK (Reuters) – Crude stockpiles at Cushing, Oklahoma, the delivery point for U.S. oil futures, last week rose by 1.4 million barrels to 42.6 million barrels, the highest since Jan. 2018, the Energy Information Administration said on Wednesday.

Meanwhile, weekly U.S. Gulf coast commercial imports last week dropped by 371,000 barrels per day (bpd) to 1.6 million bpd, the lowest since September 2017, the data showed.

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Source: Investing.com

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