More crude oil in storage reported at Cushing Hub and the U.S.



Increases in the amount of crude oil in storage at the Cushing Hub in Oklahoma and across the nation were reported over the past week.

The U.S. Energy Information Administration reported Wednesday that Cushing’s total amount of crude oil in storage had grown to 42.1 million barrels. A week earlier, the total was 40.6 million barrels.

Gains have been reported every week this year at the Cushing Hub. In late April, the total was 33.6 million barrels. One year ago, the total held at Cushing was 22.6 million barrels.

Nationally, the EIA reported a gain as the total in storage went from 459.2 million barrels to 467.1 million barrels in the past week. In late April, the total was 459.6 million while a year ago, the U.S. held 418.7 million barrels in storage.

The U.S. days of supply is listed as 25.8 days while a week earlier it was 28.5 days.