Crude Oil Storage Report - October 15

[dan_s]

CRUDE OIL INVENTORY/’000 bbls (Week Ended 10/9/15)

Current: 468,559
Actual Build/(Withdrawal): 7,562
Economist Average Estimate: 2,355
Previous: 460,997

Oil futures are trading lower on this unexpectedly large build. Keep in mind that EIA numbers for production and storage levels are formula driven "guesses" AND we are still in Shoulder Season when a lot of refineries are still down for inspections/repairs as they make changes from gasoline to heating oil.