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 […]
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 […]
Energy Stocks see draw across the board in today’s EIA Report.
The U.S. Energy Information Administration (EIA) reported a decline of 1.5 million barrels in the estimated inventory for the week ending July 1. This decline contrasts with the substantial drawdown of 9.6 million barrels in the previous week, which temporarily pushed prices higher. According to the EIA, U.S. crude oil inventories stood at 452.2 million […]
Oil Inventories Build. Up 2.4 M in Recent EIA
EIA: Oil Inventories Up 2.4 Million Barrells, Continuing Trend of Builds Over Recent Weeks. Crude oil: +2.4M Domestic prod: 12.3MMbpd SPR: NC Cushing: +1.1M Gasoline: +5.0M Implied mogas demand: 8.43MMbpd Distillates: +2.9M Refiner utilization: 87.9% Total exports: 9.16MMbpd After three weeks of inventory builds, two of which were substantial, the U.S. […]
Oil Inventories Up for the 6th Straight Week.
U.S. crude stockpiles rose for a sixth straight week last week, reaching their highest in 20 months. Inventories rose by 4.14M barrels during the week ended Jan. 27. The Energy Information Administration, said in its Weekly Petroleum Status Report. The build was above the 0.376M forecast by industry analysts and compared with the rise of […]
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 […]
EIA Report US Crude Inventory Increase.
EIA Report US Crude Inventory Increase Update 1/11/23 Crude oil stockpiles in the United States increased by 19 million to 439.6 million barrels in the week ending January 6, the US Energy Information Administration said in its weekly report on Wednesday 1/11/23 compared with analysts’ expectations in a Reuters poll for a 2.2-million-barrel drop. […]
