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Market Tightening

All articles tagged with #market tightening

energy2 years ago•1 min saved

"Market Tightens, Fueling Oil Price Gains"

Oil prices continue to rise, with WTI Crude trading above $91 per barrel and Brent Crude above $94 per barrel. Falling global inventories, OPEC+ production cuts, and China's stimulus measures have supported the market. The growing imbalance between demand and supply, along with positive economic data from the US and China, have boosted the short-term demand outlook for oil. Portfolio managers have increased their bullish bets on crude oil in response to the extended supply cuts. However, a fresh catalyst may be needed to push oil prices to triple digits.

via OilPrice.com|

#china-stimulus #demand-and-supply-imbalance #energy

energy2 years ago•4 min saved

Rising Oil Prices Driven by Depleted US Crude Inventories

US commercial crude oil inventories have been depleting, with a decline of 34 million barrels since mid-July, signaling a tightening market and driving up spot prices and calendar spreads. The drawdown in inventories has particularly affected stocks in Cushing, Oklahoma, the delivery point for NYMEX US crude futures. This depletion, combined with production cuts by Saudi Arabia and Russia, has contributed to the rise in oil prices. US net crude imports remain subdued, while the US Department of Energy has shifted from strategic inventory liquidation to accumulation, further tightening the availability of crude in the commercial market and adding upward pressure on prices and spreads.

via Reuters|

#cushing #energy #market-tightening