US crude inventories climbed 3 million barrels last week to a record high 397.552 million barrels, as refiners cut inputs while production continued to edge higher, data released by the US Energy Information Administration showed Thursday. But a US gasoline stock decline was considered bullish for NYMEX RBOB futures, especially an 841,000 barrel drop to 62.74 million barrels in stocks on the US Atlantic Coast, home of the New York delivery point for the RBOB contract. You can read Platts’ analysis here.
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