Cushing Storage Around 90% Full As Inventories Surge Most In 14 Years, Crude Plunges
by Tyler Durden
ZeroHedge.com
04/08/2015
Following last night’s huge 12.2 mm barrel inventory rise estimate from API, DOE has just confirmed last week saw an almost all-time high 10.95 million barrel inventory build. This is the higest since March 2001. With today’s 1.232 million barrel addition at Cushing, Goldman estimates only about 10% of storage capacity is left. And to complete the trifecta, crude oil production ticked back up again after last week’s hope-strewn reduction.
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