Crude Plunges To 2-Week Lows On Biggest Crude Inventory Build In Over 6 Months

While less than API’s huge 9.3mm barrel build reported last night, DOE reported a 7.56mm barrel inventory build – the largest in over 6 months. This is the highest crude stock level seasonally on record. Crude prices dipped on the news but rallied back to pre-data levels – though are notably holding on to the losses from the API print… even as production dropped notably week-over-week.

Biggest crude build in 6 months…

Click on image to enlarge