U.S. Crude Stocks Dip But Distillates Hold Steady
South Korea Unveils $747 Billion Plan to Break Its Fossil Fuel Habit 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 3.2 million barrels during the week ending October 2, according to new data from the U.S.
Energy Information Administration (EIA) released on Wednesday.
The decrease brings commercial stockpiles to 424.1 million barrels, according to government data, which is now 1% above 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 hadfallen by 2.09 millionbarrels in the period.
Crude futures were trading up at 10:24 a.m.
in New York.Brentfutures were trading at$101.79per barrel—up $1.21 (+1.20%) on the day but down roughly $1.50 per barrel from this same time last week.WTIwas also trading up on the day, by $0.48 per barrel (+0.54%) on Wednesday morning at$89.92, down about $0.80 per barrel since this time last week.
For total motor gasoline, the EIA reported that inventories increased by 400,000 barrels, after losing 1.7 million barrels in the week prior.
The most recent figures showed that average daily gasoline production averaged 9.3 million barrels.
For middle distillates, inventories were essentially unchanged, with production increasing to an average of 5.3 million barrels daily.
Distillate inventories are now 12% below the five-year average.
oil demand—averaged 21.1 million barrels per day over the last four weeks, up 0.7% 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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