Both the U.S. and Cushing hub reported gains in the total of crude oil in storage in the past week.
The U.S. total grew by more than 4 million barrels of oil, reaching a total of 459.7 million barrels, reported the U.S. Energy Information Administration. It had been 455.2 million as of May 19.
The Cushing hub grew to 38.9 million barrels as of May 26. The EIA said it was a gain from 37.2 million barrels reported on May 19. Cushing’s total in stored crude oil has increased each week over the past few months. It held 32.8 million barrels in mid-April according to the EIA.