EIA reported increases in crude, gasoline, and diesel inventories this week. Overall, stocks remain high for crude, average for gasoline, and low for distillate.
Regionally, stocks increased in the closely watched Cushing, OK storage region and the gulf coast, leaving Cushing well below the historical range, and gulf coast well above.
Demand showed weakness in both gasoline and diesel, with weekly gasoline demand falling below the 5 year range, and distillate falling for the 4th week in a row to the middle of the range: