Cushing crude inventories rise by 280K barrels, reversing previous draw

Photo: Life Of Pix / Pexels The U.S. Energy Information Administration (EIA) has reported a rise in Cushing crude inventories by 280,000 barrels. This increase at the key delivery hub comes after a previous weekly draw of 624,000 barrels. The current stock level reflects a modest build, reversing the previous week’s decline. This development is significant as Cushing is a major delivery point for NYMEX WTI futures and can influence market perceptions of supply and demand dynamics. In the prediction markets, this increase in inventories appears to have impacted the perceived probability of WTI Crude Oil reaching $160 in November 2026. Current market pricing suggests a consistent outlook with a potential decrease in prices due to the reported inventory increase, which implies concerns about oversupply. Odds for WTI hitting various high price thresholds have shown only minor changes, while the likelihood of lower price levels appears more supported. Key Takeaways Market participants suggest rising Cushing crude inventories could indicate potential oversupply concerns. The probability of WTI Crude Oil hitting $160 in November has seen minimal change, reflecting market caution. Pricing ...