Crude oil stocks held nearly even across the U.S. over the past week while they declined at the Cushing Hub in Oklahoma.
The U.S. Energy Information Administration reported Wednesday that the U.S. held 456.8 million barrels of oil in storage as of July 21, down from 457.4 million as of July 14. It was still much more than the 422.1 million barrels of oil in storage as of July 22 of 2022.
Cushing held 35.7 million barrels of crude oil as of July 21 of this year, down from the 38.3 million barrels reported on July 14. The total was less than the 42.1 million barrels of oil on June 9, reported the EIA.
A year ago, Cushing held 23.5 million barrels of crude oil.