Cushing crude oil stocks made slight gain

Cushing-Drumright Oil Field - Wikipedia


Cushing crude oil stocks made a slight gain from early July reported the U.S. Energy Information Administration.

As of July 8, the northern Oklahoma oil hub held about 21.6 million barrels of oil, an increase of nearly 300,000 barrels from July 1.

A year ago on July 9, Cushing held more than 38 million barrels of oil according to the EIA.

In its weekly report, the EIA stated that crude oil inventories in the U.S. had “unexpectedly” increased, a sign of an apparent weaker demand.