Raymond James: U.S. Petroleum Stocks Rose Sharply, Surprising Expectations
Raymond James flagged the latest U.S. Department of Energy weekly supply figures as bearish versus market expectations after total petroleum inventories increased by 7.4 million barrels. Crude stocks rose by 6.9 million barrels, gasoline stocks fell 2.6 million barrels, and distillate stocks climbed 3.0 million barrels. Refinery utilization ticked …