Tag Archives: Oil Inventories

The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

WTI crude oil drops as the US dollar gains are entrenched. Bulls have mentioned that product inventories are at critically low levels, which suggests restocking will keep crude oil demand strong.Oil price is down by 10.6% on the day after falling from a high of $111.42 to a low of …

Sources told Reuters, citing figures from the American Petroleum Institute, that oil stocks in the United States fell last week, while fuel stocks rose. According to the sources, data from the Petroleum Institute showed that crude stocks fell by 3.8 million barrels during the week ending June 24, while gasoline …

The WTI crude has recovered back above $120 after the latest US EIA inventory report showed gasoline stocks falling unexpectedly. Prices remain well supported against the backdrop of strong and rising demand plus OPEC+/Russia supply woes.Crude oil prices have been trading with an upwards trajectory in recent sessions and weeks, …

Members of the International Energy Agency will release 120M barrels of crude oil in a bid to cool markets. The news was announced on Wednesday. The US will provide 60M of these barrels and this will be included as part of the already announced 180M barrel release that US authorities …

The American Petroleum Institute (API) estimated that there was a draw this week for crude oil of 3.0 million barrels, compared to analyst predictions of a 1.558 million barrel draw. US crude inventories have shed 80 million barrels since the start of 2021 and about 23 million barrels since the …

The American Dollar and commodity prices were sharply down on Wednesday amid hopes for a solution to the Ukraine-Russia crisis. Economic DataUS oil stockpiles fell across the board last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.9 million barrels in the week to March 4 …

A US Energy Information Administration report said on Wednesday that the US Strategic Crude Oil Reserve fell 2.4 million barrels last week to 580 million barrels, its lowest level since August 2002. At the crude delivery and storage center in Cushing, Oklahoma, stocks fell by 972,000 barrels last week to …

Oil markets saw the most intra-day volatility since in nearly three months on Thursday, with front-month WTI futures surging over $8.0 to above $100 for the first time since 2014, only to then drop all the way back to $93.00. The initial surge in crude oil prices was triggered as …