Increases in crude oil stocks were recorded in the past week across the U.S. and at the Cushing Hub.
The Cushing Hub in northern Oklahoma saw a 1.5 million gain in the past week. Its total crude oil in storage jumped from 24.4 million barrels during the week of Oct. 25 to 25.9 million barrels the week of Nov. 1, 2024, according to the U.S. Energy Information Administration.
Cushing recorded a gain of 1 million barrels since the first week in October.
The U.S. storage totaled 427.7 million barrels in the past week and represented a gain of 2.2 million barrels from Oct. 25 when it amounted to 425.5 million barrels. The U.S. count grew 5 million barrels since Oct. 4.