US crude oil

US crude stockpiles fall as refiners ramp up output: EIA
Markets

US crude stockpiles fall as refiners ramp up output: EIA

  • Crude inventories fell by 5.9 million barrels in the week to April 9 to 492.4 million barrels, compared with analysts' expectations in a Reuters poll for a 2.9 million-barrel drop.
  • Oil prices rallied on the report. US crude futures were up $2.50 a barrel, or 4.1%, at $62.68 a barrel, while Brent rose 4% to $66.17 a barrel.
Published 14 Apr, 2021 08:22pm
US oil may rise into $59.95-$60.50 range
Markets

US oil may rise into $59.95-$60.50 range

  • A triple-bottom could be developing around $57.50. It will be confirmed when oil goes above $62.27. Even if this pattern turns out to be a flat consolidation within a range, oil is still likely to rise towards $62.27.
  • A break below $57.88 will be a very bearish signal that the downtrend from $67.98 could have resumed towards $51.64-$55.50 range.
Published 06 Apr, 2021 11:11am
US crude stockpiles surge, fuel draws down in post-Texas freeze period: EIA
Markets

US crude stockpiles surge, fuel draws down in post-Texas freeze period: EIA

  • Crude inventories rose by 13.8 million barrels in the week to March 5 to 498.4 million barrels, compared with analysts' expectations in a Reuters poll for an 816,000-barrel rise.
  • Refining activity rebounded as well, but with overall utilization rates lower than usual for this time of year, stocks of gasoline, heating oil and diesel continued to decline.
Published 10 Mar, 2021 08:54pm
US crude stockpiles drop, fuel inventories build: EIA
Markets

US crude stockpiles drop, fuel inventories build: EIA

  • Crude inventories fell by 3.2 million barrels in the week to Jan. 8 to 482.2 million barrels, compared with expectations in a Reuters poll for a 2.3 million-barrel drop.
  • I think what we're seeing here is the drawdown in supply and a big uptick in refinery runs is giving the market an idea that refiners are starting to ramp up production of products.
Published 13 Jan, 2021 09:08pm
US crude stocks slump, fuel inventories surge: EIA
Markets

US crude stocks slump, fuel inventories surge: EIA

  • Crude inventories fell by 8 million barrels in the last week to 485.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel drop.
  • Refinery crude runs rose by 89,000 barrels per day in the last week, EIA said.
Published 06 Jan, 2021 09:09pm