The resumption of the flow of crude oil down the Keystone Pipeline following a 14,000 barrel leak in northern Kansas last month resulted in a slight gain for the Cushing hub.
The U.S. Energy Information Administration reported the hub had 25.3 million barrels of crude oil in storage as of Dec.30, 2022. It represented an increase of 300,000 barrels over the previous week that ended Dec. 23 of last year.
The EIA stated that the Cushing hub started the month of December with 23.9 million barrels as of Dec. 2. A week later on Dec. 9, the hub maintained 24.4 million barrels followed by 25.2 million barrels as of Dec 16, 2022.
One year ago, as of Dec. 31, 2021, the Cushing hub held 37.3 million barrels of oil.