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Inventory Draw

All articles tagged with #inventory draw

energy2 years ago

Oil Inventories Decline, Gasoline Stocks Surge

Crude oil prices rebounded as the U.S. Energy Information Administration reported a 4.3 million barrel draw in inventories for the week to December 8. However, builds in gasoline and middle distillate inventories limited the price increase. Oil prices have been on a losing streak due to ample supply and projected growth in U.S. output next year. The EIA revised down its forecast for Brent crude prices in 2024, citing concerns about global oil demand growth.

via OilPrice.com|
#crude-oil-prices#energy#gasoline-inventories
energy2 years ago

"Oil Prices Surge as EIA Reports Inventory Drawdown"

Crude oil prices rose after the Energy Information Administration reported a 2.2 million barrel inventory draw for the week, while gasoline stocks added 1 million barrels. The American Petroleum Institute estimated a crude oil inventory draw of 1.6 million barrels and noted that stocks at Cushing, Oklahoma, were nearing the minimum operating level. Concerns about supply and the potential for compromised quality due to continued draws at Cushing contributed to the bullish effect on prices.

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

Crude Inventory Draw Boosts Oil Prices

Crude oil prices rose after the Energy Information Administration reported a 6.1 million barrel draw in inventories for the week ending August 18. U.S. commercial crude oil inventories are now 2% below the five-year average. Gasoline inventories increased by 1.5 million barrels, while middle distillate inventories rose by 900,000 barrels. Concerns over another U.S. rate hike and China's economic indicators continue to impact oil prices. However, despite these headwinds, the oil market's fundamentals remain constructive.

via OilPrice.com|
#crude-oil-prices#energy#energy-information-administration
energy2 years ago

Oil Prices React to Inventory Draw and Economic Concerns

Crude oil prices rose after the Energy Information Administration reported a larger than expected inventory draw of 5.1 million barrels for the week to April 21, along with a decline in gasoline inventories and a smaller draw in middle distillate inventories. Refineries in the United States processed an average 15.8 million barrels daily last week, operating at 91.3% of capacity. However, concerns about demand remain due to Treasury Secretary Janet Yellen's call on Congress to raise or suspend the debt ceiling to avoid an "economic catastrophe."

via OilPrice.com|
#crude-oil#energy#gasoline-inventories
energy2 years ago

Oil Prices Rise on Inventory Drawdowns

Oil prices rose after the Energy Information Administration reported a crude oil inventory draw of 3.7 million barrels for the week to March 31. OPEC+ deciding to reduce oil production by another million barrels daily also pushed prices higher. The EIA also reported an inventory decline in gasoline and middle distillate inventories for the last week of March. However, benchmarks stabilized as analysts questioned the immediate future of oil demand due to the cooling rate of post-pandemic recovery in China and the United States.

via OilPrice.com|
#energy#gasoline#inventory-draw