US Oil Inventories Just Hit An All-Time High

U.S. crude oil inventories just hit an all-time high, according to EIA data this morning.

Stocks grew by 3 million barrels to a 397.6 million barrels. Analysts were expecting a 500k barrel decline,

That’s the most since records began in 1978.

Oil prices spiked on the report but have since come down slightly.

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