Tuesday, March 4, 2025
Oil rises on U.S. inventory drop, Russian gas cuts- oil and gas 360

Oil rises on U.S. inventory drop, Russian gas cuts

CNBC Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike. Industry group the American Petroleum Institute said on Tuesday crude stocks fell by 4 million barrels, four times the forecast decline.

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 4.5 million barrels

Weekly Crude Oil Storage as of July 22, 2022   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.5 million barrels from the previous week.  At 421.1 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year, according to the EIA crude oil and petroleum