Crude Oil Stocks Highest In 19 Years

Crude oil stocks in the US rose to their highest level in nineteen years, according to data from the US Energy Dept yesterday.

Inventories rose last week to 3.86 million barrels, well over a million more than had been anticipated, to 370.6 million.

Meanwhile gasoline stocks rose 802,000 barrels, compared to expectations of a decline of 700,000 barrels.

Inexplicably, US refineries upped their operations 3.1% last week, to 83.4% of capacity.