{"id":112341,"date":"2025-02-27T13:57:35","date_gmt":"2025-02-27T09:57:35","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=112341"},"modified":"2025-02-27T13:57:39","modified_gmt":"2025-02-27T09:57:39","slug":"oil-prices-edge-up-after-two-month-low-market-eyes-mixed-u-s-inventory-data","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-edge-up-after-two-month-low-market-eyes-mixed-u-s-inventory-data\/02\/27\/market-updates\/","title":{"rendered":"Oil Prices Edge Up After Two-Month Low, Market Eyes Mixed U.S. Inventory Data"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Oil prices rebounded slightly in <strong>Asian trading on Thursday<\/strong>, recovering from a <strong>two-month low<\/strong> as investors analyzed <strong>President Donald Trump&#8217;s fresh tariff threats<\/strong> and a <strong>mixed U.S. inventory report<\/strong>.<\/p>\n\n\n\n<p>At <strong>21:55 ET (02:55 GMT)<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent Oil Futures<\/strong> rose <strong>0.3%<\/strong> to <strong>$72.77 per barrel<\/strong><\/li>\n\n\n\n<li><strong>Crude Oil WTI Futures (March expiry)<\/strong> gained <strong>0.4%<\/strong> to <strong>$68.53 per barrel<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>U.S. Oil Market: Crude Draw vs. Refined Product Surplus \u2013 EIA Report<\/strong><\/h3>\n\n\n\n<p>The <strong>U.S. Energy Information Administration (EIA)<\/strong> released its <strong>weekly oil market report<\/strong> on Wednesday, painting a <strong>mixed picture<\/strong> of the supply-demand balance.<\/p>\n\n\n\n<p>Key takeaways for the week ending <strong>February 21<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>U.S. crude oil inventories fell by 2.3 million barrels<\/strong>, surprising analysts who had expected a <strong>2.6 million barrel increase<\/strong>. This signals a <strong>tighter supply environment<\/strong>.<\/li>\n\n\n\n<li><strong>Refinery inputs increased by 317,000 barrels per day<\/strong>, with <strong>refinery utilization at 86.5%<\/strong>, indicating <strong>higher refining activity<\/strong>.<\/li>\n\n\n\n<li><strong>Gasoline inventories unexpectedly rose by 400,000 barrels<\/strong> to <strong>248.3 million barrels<\/strong>, while <strong>distillate fuel stocks surged by 3.9 million barrels<\/strong> to <strong>120.5 million barrels<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>The buildup in <strong>refined product stocks<\/strong> suggests that while <strong>refineries are processing more crude<\/strong>, <strong>demand for gasoline and distillates may be lagging<\/strong>, leading to <strong>higher inventories<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Trump Revokes Chevron\u2019s License in Venezuela, Raising Supply Concerns<\/strong><\/h3>\n\n\n\n<p><strong>President Donald Trump<\/strong> announced the <strong>revocation of Chevron Corp\u2019s (NYSE: CVX) license<\/strong> to operate in <strong>Venezuela<\/strong>, citing <strong>President Nicol\u00e1s Maduro&#8217;s failure to enact electoral reforms<\/strong> and <strong>facilitate the return of deported migrants<\/strong>.<\/p>\n\n\n\n<p><strong>Key Implications:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Effective March 1, 2025<\/strong>, Chevron will no longer be able to export <strong>approximately 240,000 barrels per day of Venezuelan crude<\/strong>, which accounts for <strong>over 25% of the country\u2019s total output<\/strong>.<\/li>\n\n\n\n<li>The decision has contributed to <strong>oil price gains<\/strong>, as markets anticipate a <strong>tighter crude supply outlook<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>While the market remains volatile, <strong>geopolitical risks<\/strong> and <strong>inventory dynamics<\/strong> will continue to shape <strong>oil price movements<\/strong> in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rebounded slightly in Asian trading on Thursday, recovering from a two-month low as investors analyzed President Donald Trump&#8217;s fresh tariff threats and a mixed U.S. inventory report. At 21:55 ET (02:55 GMT): Brent Oil Futures rose 0.3% to $72.77 per barrel Crude Oil WTI Futures (March expiry) gained 0.4% to $68.53 per barrel &hellip;<\/p>\n","protected":false},"author":9,"featured_media":103776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6936,6875,7534],"class_list":["post-112341","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil-prices","tag-russia","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=112341"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112341\/revisions"}],"predecessor-version":[{"id":112342,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112341\/revisions\/112342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/103776"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=112341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=112341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=112341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}