US crude inventories saw their largest-ever weekly build last week as refinery demand cratered amid a historic collapse in product demand, US Energy Information Administration data showed Wednesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Commercial crude stocks surged 15.18 million barrels to 484.37 million barrels during the week ended April 3, EIA said, putting inventories more than 2% above the five-year average for this time of year. The bulk of the build was at Cushing, Oklahoma, the delivery point of the NYMEX crude contract, where stocks climbed 6.42 million barrels to 49.24 million barrels. The build was the largest-ever on record at Cushing, and put tank levels there at an estimated 62% of working capacity, […]

Posted in: USA