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US crude stocks edge up further

Oil

US crude oil inventories increased by 1.2M bbls w-o-w to total 489.4M bbls in the week ending 27 November, according to the US Energy Information Administration (EIA). This is marginally below April 2015's record high of 491M bbls. US crude runs rose to 16.8M b/d, the highest since August. This followed a 423K b/d w-o-w rise, which was the largest since June 2014. US crude imports were up 414K b/d from the prior week to 7.7M b/d.