Crude Oil Inventories Back on the Upswing

After last week's much larger than expected drawdown in oil inventories, this week's report showed a partial rebuild.  While the consensus forecast was for a build of 1 million barrels, the actual increase was much greater at 1.762 million barrels.  As a result crude oil prices are getting whacked with oil trading down more than $2.  Heading into the coldest part of the year, oil inventories remain well above their historical average.

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