Cushing records slight drop in total crude oil in storage


The latest figures from the U.S. Energy Information Administration show crude oil storage slipped in the past week at the Cushing Hub in northern Oklahoma.

The EIA listed storage at 38.3 million barrels of oil as of July 14, down slightly from the 41.2 million recorded July 7 of this year. Cushing held 42.8 million barrels of crude oil at the end of June and 40.6 million at the start of the same month.

The total of crude oil in storage across the U.S. was 457.4 million barrels, not quite the same as the 458.1 million recorded July 7. It was still more than the 426.6 million barrels reported by the EIA on July 15 of last year.