U.S. Oil Inventories Edge Lower as Fuel Demand Softens
Russia Extends Diesel Export Ban Through October Trump's 65-billion-barrel Venezuela oil deal… 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 a decrease of 600,000 barrels during the week ending September 11, according to new data from the U.S.
Energy Information Administration (EIA) released on Wednesday.
The decrease brings commercial stockpiles to 423.4 million barrels, according to government data, which are now 1% above with 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 gained7.14 millionbarrels in the period.
Crude futures were trading down at 10:26 a.m.
in New York.Brentfutures were trading at$107.36per barrel—down $1.39 (-1.28%) on the day but up roughly $1.30 per barrel from this same time last week.WTIwas also trading down on the day, by $2.03 per barrel (-1.92%) on Thursday morning at$103.80, up about $3 per barrel since this time last week.
For total motor gasoline, the EIA reported that inventories increased by 800,000 barrels, after gaining 1.3 million barrels in the week prior.
The most recent figures showed that average daily gasoline production rose to 9.6 million barrels.
For middle distillates, inventories increased by 1.6 million barrels with production decreasing to an average of 5.2 million barrels daily.
Distillate inventories are now 13% below the five-year average.
oil demand—averaged 20.5 million barrels per day over the last four weeks, down 0.6% 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% |
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