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Thursday
Sep092010

Crude Oil Inventories Still Way Above Average

DateThursday, September 9, 2010 at 11:02AM

This week's energy inventory report from the EIA showed that crude oil stockpiles declined by 1.853 million barrels in the latest week.  However, even with the decrease in inventories, the gap between current and average levels is still at its highest level of the year.  The reason for this disparity is that the first week of September typically sees a much larger decline in crude oil stockpiles (3.4 million barrels since 1983). 

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