In another move that likely will impact crude oil prices in the U.S., data shows gains in crude stocks across the nation including at the Cushing Hub in northern Oklahoma.
The Cushing Hub saw a gain of 1.1 million barrels of crude oil as of the week of Feb. 28, 2025 when it reached 25.7 million barrels reported the U.S. Energy Information Administration. The previous total a week earlier was 24.6 million. Cushing’s total in stored crude oil grew by 4.8 million since the last week in January when the Hub held 20.9 million barrels.
The U.S. total in crude stocks reached 433.8 million barrels in the last week of February, a gain of 3.6 million from the 430.2 million barrels reported the week of Feb. 21, 2025. The nation’s crude stocks have increased 10 million barrels since the week of Jan. 31 of this year.