Crude oil stocks made slight gains both at the Cushing Hub and nationwide in the past week, according to a new report from the U.S. Energy Information Administration.
Cushing made a gain of 300,000 barrels of crude oil from October 20 when it held 21.2 million barrels. By October 27, the amount held at the northern Oklahoma hub was 21.5 million barrels.
However, the amount at Cushing was still 6.7 millon barrels less than the 28.2 million barrels held there at the end of October 2022.
The U.S. total, per the EIA, was 421.9 million barrels on October 27 of this year, or 800,000 barrels more than on October 20. But the total was still far below the 436.8 million barrels recorded on October 28, 2022.