tldrdaily.news logo
Tag

Crude Oil Inventory

All articles tagged with #crude oil inventory

energy2 years ago

Oil Prices Slide as US Crude Stockpiles Rise and Fuel Inventories Build

WTI oil prices remained just above $70 as a crude oil inventory draw of 4.6 million barrels was offset by a significant inventory build in gasoline and a smaller one in distillates. The market is uncertain due to the latest production cuts from OPEC+ and concerns about Chinese energy demand growth. Some analysts are pessimistic, while others argue that the commodity is oversold. WTI front-month futures are now trading almost 15% lower than 30 days ago.

via OilPrice.com|
#crude-oil-inventory#distillates#energy
energy2 years ago

Oil Prices Dip as U.S. Crude Inventories Surpass Expectations

Crude oil prices declined as the Energy Information Administration reported a build in crude and fuel inventories. The American Petroleum Institute estimated a slight dip in crude oil inventory, while gasoline and middle distillates inventories increased. Oil prices remained volatile ahead of the OPEC+ meeting, where an extension of production cuts is expected. Analysts anticipate that deeper cuts from Saudi Arabia could push prices higher, but uncertainties remain. If OPEC fails to reach an agreement and delays the meeting, prices are likely to fall.

via OilPrice.com|
#crude-oil-inventory#energy#fuel-inventory