Oil Storage

U.S. crude oil stocks suddenly fell sharply last week as exports leapt, while gasoline stockpiles reduced less than forecast, the Energy Details Administration (EIA) said on Wednesday. Crude stocks slumped by 6.4 million barrels to 453.6 million barrels in the week ended April 19, the EIA said, compared to analysts' expectations in a survey for a. 825,000-barrel rise. Petroleum inventories fell following the largest weekly increase. this year in exports of 453,000 barrels each day (bpd) to 5.18. million. Net U.S. crude imports fell by 417,000. bpd, the EIA said. It was all about the exports, stated Bob Yawger,. director...

Oil prices fell at Asia's. open on Monday, dragged down by a restored focus on market. principles, as Israel and Iran soft-pedaled the threats of an. escalation of hostilities in the Middle East after Israel's. obviously little strike on Iran. Brent futures fell 54 cents, or 0.6%, to $86.75 a. barrel by 1218 GMT. The front month U.S. West Texas Intermediate (WTI) crude. contract for May, which expires on Monday, fell 12 cents. to $83.02 a barrel. The more active June agreement dropped. 47 cents, or 0.6%, to $81.75 a barrel. Financial concerns again end up being a bearish factor...

U.S. crude oil and gasoline stocks increased all of a sudden last week driven by an increase in crude imports and sluggish fuel need, the Energy Details Administration stated on Wednesday. Crude inventories increased by 3.2 million barrels to 448.2 million barrels in the week ended March 22, the EIA stated, compared to analysts' expectations in a poll for a 1.3 million-barrel draw. The crude construct was supported by a net increase in U.S. unrefined imports by 1.12 million barrels per day, and is setting the stage for a month-to-month build in crude oil, according to Matt Smith, lead oil...

U.S. crude oil, fuel and extract stocks rose last week mainly driven by low crude exports and as suggested demand for fine-tuned items declined, the Energy Info Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 457.3 million barrels in the week ended April 5, the EIA said, compared with analysts' expectations in a poll for a 2.4 million-barrel increase. Unrefined futures fell after the bigger-than-expected build. Brent futures were trading 3 cents lower at 89.39 a. barrel by 10:48 a.m. ET (1448 GMT). West Texas Intermediate. crude futures (WTI) were down 11 cents at $85.12 a....

U.S. crude, fuel and extract stocks rose in the week ending April 5, the Energy Info Administration stated on Wednesday. Crude inventories increased by 5.8 million barrels to 457.3 million barrels in the week ended April 5, the EIA stated, compared with analysts' expectations in a poll for a 2.4 million-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery center fell by 170,000 barrels in the week ended April 5, the EIA said. Refinery crude runs fell by 115,000 barrels per day in the week ended April 5, the EIA stated. Refinery utilization rates fell by 0.3 portion points in...

U.S. oil production dropped sharply at the start of the year as remarkably winter for 10 days in the middle of January triggered extensive freeze offs at oil wells. Nationwide crude and condensates output was down by almost 24 million barrels or 0.8 million barrels each day (b/d) in January 2024 compared with December 2023. The monthly decrease was the largest given that Winter season Storm Uri in February 2021 and before that the first wave of the coronavirus epidemic in March and April 2020. The fall was the ninth largest in over a century considering that records began in...

U.S. unrefined stocks increased suddenly recently, while fuel and distillate stocks fell more than anticipated, as refining activity slowed in the world's leading oil producing country, the Energy Information Administration said on Wednesday. Crude stocks swelled for a second straight week, increasing by 3.2 million barrels to 451.4 million barrels in the week to March 29, the EIA stated, compared to experts' expectations in a poll for a 1.5 million-barrel draw. U.S. fuel stocks, meanwhile, fell by 4.3 million barrels in the week to 227.8 million barrels, the EIA said, compared with experts' expectations in a poll for a. 800,000-barrel...

Oil prices succumbed to the 2nd successive session on Wednesday as the dollar reinforced and federal government data showed a surprise jump in U.S. crude and gas stocks. Brent unrefined futures for May shed 16 cents, or 0.2%,. to settle at $86.09 a barrel while the more actively traded June. agreement was down 22 cents to $85.41. The May agreement. expires on Thursday. U.S. West Texas Intermediate (WTI) unrefined futures. for May shipment dropped 27 cents, or 0.3%, to $81.35 a barrel. Both Brent and WTI futures have been under selling pressure. because striking more than four-month highs recently. A...

Oil rates settled slightly lower on Thursday, pressured by weaker U.S. gas need data and reports of a United Nations draft resolution requiring a. ceasefire in Gaza. Brent unrefined futures for May settled down 17 cents,. or 0.2%, to $85.78 a barrel, while U.S. West Texas Intermediate. futures for May settled own 20 cents, or 0.3%, to $81.07. a barrel after a fall of about 1.8% in the previous session. Crude stocks in the United States, the world's biggest. oil customer, unexpectedly declined recently, the U.S. Energy. Details Administration (EIA) reported on Wednesday. Gas inventories fell for a seventh week,...

Oil prices rebounded on Thursday after falling in the previous session as U.S. crude and fuel inventory decreases supported the marketplace after indications the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel need. Brent petroleum futures contract for May settlement rose 0.6%, or 52 cents, at $86.47 a barrel at 0155 GMT, after falling 1.6% on Wednesday. U.S. West Texas Intermediate futures for May delivery increased 0.5%, or 45 cents, to $81.72 a barrel, after falling 1.6%. in the previous session. The April contract ended on Wednesday. down 2.1% at $81.68. Unrefined inventories...

Oil costs fell on Wednesday as the U.S. Federal Reserve held rates of interest steady and demand concerns continue to weigh. Brent crude futures for May settled down $1.43, or 1.64%, at $85.95 a barrel. U.S. West Texas Intermediate futures for April shipment, which end on Wednesday, ended $ 1.79, or 2.14%, lower at $81.68. The more active May WTI contract calmed down $1.46. at $81.27 a barrel. Brent had settled at its highest considering that Oct. 31 in the. previous session at $87.38 a barrel, while WTI hit its greatest. considering that Oct. 27 at $83.47. On Wednesday, the...

U.S. petroleum stockpiles fell all of a sudden last week as exports increased and refiners continued to increase activity, while gas inventories decreased more than expected, the Energy Info Administration (EIA) stated on Wednesday. Crude inventories fell for the second week in a row, coming by 2 million barrels to 445 million barrels in the week ended March 15, the EIA stated, compared with experts' expectations in a poll for a 13,000-barrel increase. Gas stocks continued a seventh straight week of drawdowns, falling by 3.3 million barrels to 230.8 million barrels, the EIA stated. Analysts had forecasted a 1.3 million-barrel...

Petroleum prices have fallen following Iran's rocket and drone assault on Israel, puzzling expectations that the escalation of the shadow war would cause them to rise. Like major commercial mishaps, extreme relocations in oil rates, spikes or slumps, are constantly the item of multiple aspects instead of a single cause. Spikes normally take place when the business cycle is mature; stocks are well below regular; spare production capability is low; and there is a real or threatened disturbance to production. In this instance, nevertheless, the escalation is taking place in a. market that is otherwise easily provided, with inventories. near...

India plans to develop its first independently managed strategic petroleum reserve (SPR) by 202930, giving the operator the flexibility to trade all of the stored oil, the president of Indian Strategic Petroleum Reserves Ltd (ISPRL) said. Permitting a fully commercial SPR mirrors the design embraced by nations such as Japan and South Korea, which allow private lessees, mainly oil majors, to trade the crude. So far, India has permitted just partial commercialisation for its 3 existing SPRs in southern India, which have an integrated capability of 36.7 million barrels. India prepares to develop 2 brand-new SPRs - the first a...

Oil prices fell for a. 2nd day on Wednesday after a report that unrefined stockpiles in. the U.S., the world's greatest oil user, rose and on indications. significant producers are unlikely to change their output policy at a. technical meeting next week. Brent crude futures for May dropped 69 cents, or. 0.8%, to $85.56 a barrel at 0150 GMT. The May contract is set to. to end on Thursday and the more actively traded June contract. declined 60 cents, or 0.7%, at $85.03. U.S. West Texas Intermediate (WTI) crude futures for. May shipment fell 55 cents, or 0.7%, at $81.07....

Oil rates settled lower on Tuesday as investors took a more blended view towards the loss of Russian refinery capability after recent Ukrainian attacks. Front-month Brent crude futures due to end on Thursday calmed down 50 cents at $86.25 a barrel while U.S. West Texas Intermediate (WTI) unrefined futures settled 33 cents, or 0.4%, at $81.62. The more actively traded Brent futures for June settled 33 cents at $85.96. Oil rates edged lower after Russia's federal government bought business to cut output in the 2nd quarter to fulfill a 9 million barrels each day (bpd) target to comply with pledges...

Oil prices sank in early Asian trading on Friday on the possibility of a nearing Gaza ceasefire, which could loosen global supply, at the exact same time a. stronger U.S. dollar and faltering gas moistened need. belief. Brent unrefined futures fell 18 cents to $85.60 a barrel. by 0011 GMT. U.S. crude futures shed 19 cents to $80.88. per barrel. On Thursday, U.S. Secretary of State Antony Blinken stated he. believed talks in Qatar might reach a Gaza ceasefire agreement,. increasing the possibility of more international oil supply. Blinken met Arab foreign ministers and Egypt's President. Abdel Fattah El-Sisi in...

Oil costs edged lower in early Asian trading on Wednesday, as a stronger dollar suppressed financier cravings while traders took some money off the table after standards rallied to multimonth highs in each of the past two sessions. Brent unrefined futures for May delivery fell 19 cents, or 0.2%, to $87.19 a barrel by 0104 GMT. U.S. West Texas Intermediate futures for April shipment, which end on Wednesday's settlement, fell 35 cents, or 0.4%, to $83.12 a. barrel. Weighing on Asian purchaser sentiment, the U.S. dollar index. climbed greater for the fifth-straight session after. recent information pointed to a durable...

Oil costs extended gains on Wednesday as a bigger than expected fall in U.S. crude inventories and intensifying geopolitical tensions raised investor stress over tighter products. Brent futures for June delivery increased 20 cents, or 0.22%, to $89.12 per barrel, while U.S. West Texas Intermediate ( WTI) crude futures for May climbed up 17 cents, or about 0.2%, to $ 85.32 a barrel, at 0015 GMT. Both Brent and WTI had actually climbed to its highest because October on the previous day. U.S. petroleum inventories fell by 2.3 million barrels last week, higher than the 1.5 million barrel drop anticipated...

Oil prices held stable in early trade on Wednesday after two straight days of losses, as worries about tighter supply due to uncertainty over Gaza ceasefire talks were offset by a biggerthanexpected integrate in U.S. crude inventories. Brent unrefined futures were flat at $89.42 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 2 cents to $85.25. Hamas said on Tuesday that an Israeli proposal on a. ceasefire in their war in Gaza did not meet the demands of. Palestinian militant factions, but it would study the deal. even more and deliver its action to...

Oil prices increased in early trade on Wednesday as big wildfires were threatening Canada's oil sands and as the marketplace expected U.S. crude oil and gas inventories to reveal a drawdown later on in the day. Brent unrefined futures were up 34 cents, or 0.4% at $ 82.71 a barrel. U.S. West Texas Intermediate unrefined futures ( WTI) rose 38 cents, or 0.5%, to $78.39 a barrel by 0016 GMT. A large wildfire was approaching Fort McMurray, the center for Canada's oil sands market with production of around 3.3 million barrels daily, or two-thirds of the country's overall output, and...

Oil rates fell in early Asian trading hours on Wednesday after market sources stated that information from the American Petroleum Institute revealed an increase in U.S. crude and fuel stockpiles, an indicator of weak need. Brent crude oil futures fell 21 cents, or 0.3%, to $ 82.95 a barrel by 0020 GMT. U.S. West Texas Intermediate crude futures fell 13 cents, or 0.2%, to $78.25 a barrel. U.S. unrefined stocks increased by 509,000 barrels in the week ended May 3, market sources said mentioning American Petroleum Institute figures. Fuel and extract fuel stocks likewise rose, they said. Official U.S. government...

Oil prices ticked higher on Thursday after U.S. unrefined inventories rose less than expected recently and fuel stocks saw big draws. Brent crude futures increased 15 cents to $83.11 a barrel by 0021 GMT, while U.S. West Texas Intermediate unrefined futures increased 18 cents to $79.31 a barrel. The standards edged up about 1% on Wednesday after crude stocks rose for a sixth week in a row, building by 1.4 million barrels, about two-thirds of the 2.1 million-barrel rise experts had forecast in a poll. Gasoline and extract stocks fell more-than-expected, the EIA information likewise showed. A strong U.S. dollar...

Oil rates relieved in early trade on Thursday after an information revealed that U.S. crude stocks leapt a lot more than expected, raising issues about demand on the planet's biggest economy. Brent unrefined futures fell 34 cents, or 0.4%, to $ 81.26 a barrel at 0135 GMT, while U.S. West Texas Intermediate crude futures decreased 36 cents, or 0.5%, to $76.28 a. barrel. Both agreements lost more than $1 a barrel on Wednesday,. pushed by the rise in U.S. unrefined stocks, as refining. dropped to its most affordable levels considering that December 2022. The Energy Information Administration (EIA) stated U.S....