Oil Prices Rise, Despite Build.
Crude Oil Prices Respond to Inventory Fluctuations, Shipping Challenges, Production Estimates. Crude oil prices witnessed a surge today following the Energy Information Administration’s (EIA) report, revealing a significant inventory increase of 5.5 million barrels for the week ending February 2. This notable uptick contrasts with the prior week’s build of 1.2 million barrels, which had […]
CP2 Approval on Hold.
Biden Administration Directs DOE to Suspend Approval, Pausing Development of the $10 Billion LNG Terminal. Open a Trading Account – Paradigm Futures Pressure from Activists Prompts Policy Change. CP2 approval on hold. In a significant development potentially with far-reaching consequences for the economy and the energy market. President Joe Biden has temporarily suspended approvals for […]
Crude Oil Prices Push Higher after Inventory Draw
Today’s EIA Report Shows 2.5 Million Barrel Decline. Crude oil prices saw a modest uptick today as the U.S. Energy Information Administration reported a decline of 2.5 million barrels in estimated inventory for the week ending January 12. This marks a departure from the previous week, which witnessed a moderate build of 1.3 million barrels, […]
Large Crude Draw, Overshadowed by Huge Product Build.
Today, crude oil prices declined as the Energy Information Administration reported substantial fuel inventory builds for the week ending December 29. Crude Drops for Second Straight Week to End 2023 In crude oil, the authority estimated a notable inventory decline of 5.5 million barrels for the final week of 2023. This marked a departure from […]
CPI 📈On the Rise
Consumer Price Index climbs again ahead of pivotal FED meeting. August CPI – MoM CPI: +.6% – YoY CPI: +3.7% – MoM Core CPI: +.3% – YoY Core CPI: +4.3% – CPI Energy Prices +5.6% – Food Prices +0.2% Core and Headline Inflation In August 2023, rising energy costs and related services primarily drove the […]
EIA Energy Stocks Report
Draw Confirmed by todays EIA report, Crude Prices See Upside. EIA Energy Stocks API Estimates (6/27/23) Crude: -2.408M Gasoline: -2.85M Distillates: +0.777M Today’s EIA report shows an inventory draw of 9.6 million barrels for the week ending on June 23, causing crude oil prices to move higher. In comparison, the previous week saw an inventory […]
EIA Shows Another Build in Crude
U.S. Energy Information Administration reported an inventory build of 5 million barrels for the week to May 12, causing crude oil prices to move lower today. The EIA stated that crude oil inventories currently stand at 467.6 million barrels, slightly below the five-year average for this time of the year. One day earlier, the American […]
Crude Sheds Inventory.
EIA Report Shows a Drop in Inventory, Overshadowed by Looming FED Decision Later today, analysts expect the Fed to announce another rate hike, while Congress negotiates the debt ceiling. Both of these could cause a slowdown in US economic growth. Which is suggested by the decrease in diesel demand, which is also not seen as […]
Huge Draw Down on Energy Stocks
EIA report shows declines in stock supplies across the board. Energy Information Administration reports an inventory draw of 5.1 million barrels for the week to April 21. This compared with another decline of 4.6 million barrels, for the previous week, and an estimated 6-million-barrel inventory decline for the week to April 21, as reported by the American Petroleum Institute. […]
EIA: Crude Inventories See Major Decline, After Last Weeks Unexpected Build.
Energy Information Administration report a draw of 4.6 million barrels in crude oil inventories, as opposed to a modest build of 600,000 barrels the previous week. The week before that had witnessed a substantial draw of 3.7 million barrels, as estimated by the EIA. The EIA also estimated mixed changes in inventories for the week […]
