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Crude oil inventories saw a significant build this week, even as traders were expecting a decline of 750,000. With an increase of 3 million barrels, crude oil inventories are now once again higher than they have been at any other time since 1983. You can drive a truck through a gap between actual stockpiles and the average for this time of year.

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While crude oil inventories are higher than they have ever been, gasoline stockpiles are much closer to average for this time of year -- and even more so after this week's decline in inventories. For the latest week, traders were expecting a decline of 650,000 barrels, while the actual decline came in at more than twice that (-1,514).

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Source: Record High Crude Oil Inventories