The amount of crude oil held at the main U.S. storage hub in Cushing, Okla., set a record to start off 2016, market analysis from Genscape finds. By more than 340,000 barrels, the amount of crude oil in storage in Cushing beat the previous record set April 14, a report finds. Genscape said a combination of year-end tax strategies and fundamentals in the crude oil market were in part behind the increase in storage . The April high was set when the price for West Texas Intermediate crude oil, the U.S. benchmark price, was in a 12-month contango structure, meaning the future price was higher than the daily market, or spot, price. Inventories in Cushing were at an all-time high for the […]