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 […]
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 […]
EIA Oil Inventory Shows Miniscule Build. SPR Remains Flat.
EIA Weekly Oil Inventory Shows Modest Increase. The U.S. Energy Information Administration (EIA) reported a build of 500,000 barrels of oil inventory for the week ending January 20. This comes after two previous sizeable builds of 8.4 million and 19 million barrels for the second and first weeks of January, respectively. Currently, crude oil inventories […]
SPR Drops to Lowest Level Since 1983 EIA Reports
SPR Drops to Lowest Level Since 1983 EIA Reports 1/11/23 EIA Weekly Petroleum Status report indicated that U.S. Strategic Petroleum Reserve (SPR) fell to new lows of 371.6 million barrels. There has been a steady decline in the SPR for many months. The decline is expedited by the U.S. administration releasing oil from the […]
