Weekly Crude Oil Storage as of May 31, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.8 million barrels from the previous week. At 483.3 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Weekly Crude Oil Storage as of May 24, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.3 million barrels from the previous week. At 476.5 million barrels, U.S. crude oil inventories are about 5% above the five year average for this time of year, according to the EIA crude oil and petroleum weekly
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.7 million barrels from the previous week. At 476.8 million barrels, U.S. crude oil inventories are about 4% above the five-year average for this time of year, according to the lastest inventory data that the EIA released today. Summary of weekly petroleum data for the week
From Reuters The amount of oil in storage in Alberta rose in February, monthly data shows, despite moves by the government of Canada’s largest crude-producing province to reduce inventories by imposing curtailments on production. The reason is a sharp decline in crude by rail shipments, analysts say. A significantly narrower discount on Canadian crude compared with U.S. barrels as a
From Reuters Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world’s oil supply cushion “might be stretched to the limit” due to production losses. Benchmark Brent crude oil LCOc1 rose $1.70, or more than 2.3 percent, to a high of $75.10 a barrel before losing almost all its gains
International oil prices are contingent upon both the worldwide growth in oil production and the worldwide growth in oil inventories. Understanding the balance of these movements, and interpreting those movement is undertaken by the Energy Information Agency (EIA) and the International Energy Agency (IEA), in order to better evaluate and predict oil price movements. In the U.S., and across the
Crude oil inventory draw beats expectations at 2.7 MMBO Crude oil inventories shrank for the fourth week in a row, according to information released from the Energy Information Administration. The total amount of crude in storage declined 2.6 MMBO, 1.2 MMBO more than economist expected, but WTI prices still fell over $1 per barrel as market watchers point out that
Oil bounces back after official data shows yet another crude inventory draw Oil prices came back from a nearly 2% decline Wednesday morning following news from the Energy Information Administration that U.S. crude oil inventories fell last week. The oil inventory draw is the seventh time in the last eight weeks that stores of crude went lower despite analysts’ expectations
Non-Iranian floating storage down to an estimated 10 MMBO Backwardation in the physical oil market is helping to draw down the number of barrels waiting in floating storage, according to a report from CNBC. An estimated 75-80 MMBO of oils was being stored in floating storage as future prices on oil remained higher than the current price (a contango market),
Crude oil inventory build offset by refined product draw, supporting prices above $50 per barrel Both Brent and WTI crude prices are up after falling earlier in the day on expectations of a 3 MMBO crude oil build. The build exceeded expectations, with the U.S. adding 4.9 MMBO to its inventory according to the EIA, but prices recovered following the
April 20, 2016 CRUDE OIL INVENTORY ‘000 bbls (Week Ended 4/15/16) Current: 538,611 Actual Build/(Withdrawal): 2,080 Economist Average Estimate: 2,295 Previous: 536,531 Analyst Commentary on Today’s Build Crude Inventory WoW Build Below Expectations on Lower Imports and Higher Refinery Util Rate – UBS Investment Research Crude stocks rose 2.1 MMBbls WoW to 538.6 MMBbls (near consensus of a 2.4
$40 Oil Prices Coming into View Once Again An inventory build of 4.2 million barrels (MMBO) pushed down the price of West Texas Intermediate (WTI) by nearly 3% in Thursday trading, increasing the United States’ crude stockpile to more than 487 MMBO overall. Crude oil inventories have now increased on a weekly basis for the last seven reporting periods, adding
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