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 […]
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 […]
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 […]
HUGE Draw Moves Oil Markets
EIA Report Shows Large Draws in Crude Oil, Gasoline, SPR. The U.S. Energy Information Administration estimated that inventories in the country had shed 12.5 million barrels in the week to May 19. This comes a day after the American Petroleum Institute estimated a sizable decrease in crude oil inventories in the U.S. Fears of a […]
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 […]
