Crude oil inventories at Cushing, Oklahoma—the designated delivery point for WTI Crude oil futures contracts—have been falling for the past four weeks, reaching what could be uncomfortably low levels and pointing to a potential further upside for oil prices. In the latest reporting week to January 28, the U.
S. Energy Information Administration (EIA) said that Cushing crude inventories fell to 30.5 million barrels, down by 1.2 million from the previous week. Cushing inventories are now down by 37.3 percent compared to this time of the…Low Cushing Inventories Could Lead To Higher Oil Prices
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