US Oil Product Inventories Continue to Fall
India Weighs Gas Levy to Bankroll $42 Billion Fuel Reserve Plan Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector.
Her… Crude oil inventories in the United States saw an increase of 2.5 million barrels during the week ending July 31, according to new data from the U.S.
Energy Information Administration (EIA) released on Wednesday.
The increase brings commercial stockpiles to 407 million barrels, according to government data, which are now 6% below the five-year average for this time of year.
The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had risenby 2.69 million barrelsin the period.
Crude futures crept up in early morning trade after a major selloff Tuesday inspired by renewed talks of a potential peace deal.
in New York,Brentfutures were trading at $79.62per barrel—up $0.26 (+0.33%) on the day but down roughly $10 per barrel from this same time last week.WTIwas trading slightly down on the day, by $0.42 per barrel (-0.55%) on Wednesday morning at $75.35, down $9 per barrel since this time last week.
For total motor gasoline, the EIA reported that inventories fell 1.6 million barrels, after increasing slightly in the week prior.
The most recent figures showed that average daily gasoline production decreased to 9.6 million barrels.
For middle distillates, inventories decreased by 3.5 million barrels, with production decreasing to an average of 5.2 million barrels daily.
Distillate inventories are now 12% below the five-year average.
oil demand—averaged 20.4 million barrels per day over the last four weeks, down 0.9% compared to the same period last year.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment