Source: Reuters (Reuters) – U.S. crude oil stockpiles rose sharply last week as refineries cut output and exports dropped, while refined products extended a multi-week drawdown, the Energy Information Administration said on Wednesday. Crude inventories rose by 7.9 million barrels in the week to Nov. 1, compared with analysts’ expectations in a Reuters poll for an increase of 1.5
Source: Reuters NEW YORK (Reuters) – U.S. crude oil stockpiles soared last week amid higher imports and a release from national reserves, while gasoline and distillate inventories extended their declines even as refiners ramped up production, the Energy Information Administration said on Wednesday. Crude inventories, excluding the Strategic Petroleum Reserve (SPR), rose 5.7 million barrels in the week to Oct.
From Reuters A disappointing planting season due to massive flooding in the U.S. Midwest this spring is expected to have spillover effects on diesel demand during harvest season, analysts and traders said. Heavy storms that lingered over the Midwest left millions of acres unseeded and put crops that were planted late at a greater risk for damage from severe weather
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