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US gulf to receive flood of oil as glut in midwest grows

Oil inventories in Cushing, Oklahoma, have more than doubled since the beginning of October to 48.7 million barrels as of Feb 20, according to data from the Energy Information Administration.


THE flood of oil inundating the US Midwest is about to cascade down to the Gulf Coast. Bulging inventories at tanks in Cushing, Oklahoma, the country's biggest storage hub and delivery point for US benchmark futures, has made oil there the cheapest in more than a year compared