US crude inventories close in on record high
US crude oil inventories rose by 1M bbls w-o-w to 488.2M bbls in the week ending 20 November, according to the US Energy Information Administration (EIA). This is marginally below April's record high of close to 491M bbls. US crude imports were up 365K b/d w-o-w to 7.3M b/d. US crude runs rose by 304K b/d from the prior week to 16.4M b/d, the highest since August.