(Washington, DC) – Crude Stocks at Cushing declined for a second week in the latest report issued by the U.S. Energy Information Agency. The EIA, an agency of the Energy Department estimates crude stocks at Cushing to be 38.9 million barrels, down one million from the week prior. Total U.S.crude stocks declined 4.8 per cent, from 1,100.3 to 1,095.5 millon barrels. The EIA says that the East Coast and West Coast Districts saw slight gains, while the Midwest District, which includes the Cushing Tank Farms, the Rocky Mountain District and Gulf Coast District all declined.
Crude Stocks at Cushing are still 4 per cent above one year ago levels, and 34.3 per cent above two year ago levels.
Nationwide stocks of motor gasoline increased about 1 per cent, from 212.3 million barrels to 214.5 million. Gasoline stocks are down from the same period a year ago by 2 per cent, but 6.4 per cent ahead of two year ago levels.
The EIA releases its weekly estimate at 1:00 PM Eastern on Wednesday.
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