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Cushing Inventories Are near January High

Gordon Kristopher
Cushing Inventories Are near January High

According to the EIA, Cushing inventories increased by 1.4 MMbbls (million barrels) to 37.2 MMbbls on April 27–May 4. Cushing inventories were near the highest level since January 19. However, the inventories have declined by ~29.1 MMbbls or 44% year-over-year.