U.S. crude inventories soared last week to extend their record build into the eleventh consecutive week as stocks at the Cushing, Oklahoma, delivery hub also hit another peak, data from the Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose 8.2 million barrels to 466.7 million last week, another 80-year high record, compared with analysts’ expectations for an increase of 5.1 million barrels. [EIA/S] Crude stocks at Cushing rose 1.9 million barrels to 56.3 million barrels, the EIA said, a 16th straight build adding on last week’s record high level of storage. But the EIA noted in a report released earlier this week that capacity additions at Cushing meant that while the amount of crude was at a record high, it was still only at 77 percent of capacity at the end of the previous reporting period on March 13. U.S. May crude briefly […]