A steep decline in US oil exports and a flood of imports pushed crude inventories higher last week, even as refinery inputs and refined product demand edged higher, US Energy Information Administration data showed July 8. Receive daily email alerts, subscriber notes & personalize your experience. Register Now US commercial crude inventories surged 5.65 million barrels to 539.18 million barrels during the week ended July 23, Energy Information Administration data showed July 8, putting stockpiles nearly 18% above the five-year average for this time of year. An additional 1.59 million barrels of crude flowed into storage at the nation’s Strategic Petroleum Reserve. The bulk of the build was realized on the US Gulf Coast, where stocks grew 5.05 million barrels to a fresh all-time […]