US Oil Inventories Fall Further As Demand Holds
Brent Falls to $100 as Traders Bet on a U.S.-Iran 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 900,000 barrels during the week ending October 30, according to new data from the U.S.
Energy Information Administration (EIA) released on Wednesday.
The decrease brings commercial stockpiles to 409.8 million barrels, according to government data, which is now 4% below the five-year average for this time of year.
Total commercial petroleum inventories slipped by 8.2 million barrels during the reporting period.
The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had fallen by5.267 millionbarrels in the period.
Crude futures were trading down at 10:09 a.m.
in New York.Brentfutures were trading down at$100.71per barrel—down $2.89 (-2.79%) on the day and down roughly $15 per barrel from this same time last week.WTIwas also trading down on the day, by $2.79 per barrel (-2.90%) on Wednesday morning at$93.30, down nearly $9 per barrel since this time last week.
For total motor gasoline, the EIA reported that inventories decreased by 200,000 barrels, after growing by 3.9 million barrels in the week prior.
The most recent figures showed that average daily gasoline production increased to 9.7 million barrels.
For middle distillates, inventories decreased by 3.6 million with production decreasing to an average of 5.2 million barrels daily.
Distillate inventories are now 13% below the five-year average.
| 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