Oil prices slip as weekly U.S. crude supply jumps on Wednesday, March 14

Oil Prices Moved slightly Lower as Weekly U.S. Crude Supply Jumps

Oil prices moved slightly lower Wednesday after the U.S. Energy Information Administration said crude supplies rose by 5 million barrels for the week ended March 9. Analysts surveyed by S&P Global Platts had forecast a climb of 2.5 million barrels, while the American Petroleum Institute on Tuesday reported a rise of nearly 1.2 million barrels, according to sources.

Gasoline stockpiles, however, dropped 6.3 million barrels for the week, while distillate stockpiles lost 4.4 million barrels, according to the EIA.

The S&P Global Platts survey forecast supply declines of 500,000 barrels for gasoline and 1.6 million barrels for distillates.

April crude CLJ8, +0.36% fell 10 cents, or 0.2%, to $60.61 a barrel on the New York Mercantile Exchange, down from $60.95 before the supply data.

crude oil prices bounced back

Crude Oil Prices Bounced Back After Weekly Oil Inventories Data Release

Crude oil prices bounced back immediately after the release of the weekly oil inventories data from the Energy Information Administration, earlier.

The EIA reported that crude inventories rose by 2.4 million barrels last week. Analysts were looking for a 2.6 million-barrel build. So the headline figure was better than expected and there was further good news within the report, too.

Crude stocks at Cushing fell by 0.6 million barrels, while stocks of gasoline (0.79m) and distillates (0.56m) also deceased. However, production rose further, climbing by another 0.4% last week.

Crude Oil futures erased a small decline to turn higher Thursday

Crude Oil Futures Erased a Small Decline to Turn Higher

On Thursday after government data showed an unexpected drop in U.S. crude inventories. The Energy Information Administration said crude stocks fell by 1.6 million barrels.

 

A survey of analysts by The Wall Street Journal had produced an average estimate for a 1.9 million barrel rise.

 

West Texas Intermediate crude for April delivery CLJ8, -0.15% on the New York Mercantile Exchange rose 41 cents, or 0.7%, to $62.09 a barrel.

weekly petroleum data for the week ending August 25, 2017

Key highlights from the EIA’s report’s summary of weekly petroleum data for the week ending August 25, 2017

U.S. commercial crude oil inventories decreased by 5.4 million barrels from the previous week. • U.S. crude oil refinery inputs averaged over 17.7 million barrels per day during the week ending August 25, 2017, 264,000 barrels per day more than the previous week’s average. • Refineries operated at 96.6% of their operable capacity last week. • Gasoline production increased last week, averaging 10.6 million barrels per day. Distillate fuel production decreased last week, averaging about 5.1 million barrels per day.


Data from the U.S. Energy Information Administration

Data from the U.S. Energy Information Administration

Wednesday showed that domestic crude supplies fell by 3.3 million barrels for the week ended Aug. 18, following declines in each of the last seven weeks. That’s just below the forecast for a decline of 3.7 million barrels by analysts surveyed by S&P Global Platts. The American Petroleum Institute had reported late Tuesday a fall of 3.6 million barrels, according to sources. Gasoline stockpiles were down 1.2 million barrels for the week, while distillate stockpiles remained unchanged, according to the EIA. Prices for West Texas Intermediate crude edged up from their pre-supply data …

EIA: US commercial crude oil inventories decreased by 8.9 mln barrels

EIA: US commercial crude oil inventories decreased by 8.9 mln barrels

Key highlights from the EIA’s report’s summary of weekly petroleum data for the week ending August 11, 2017: • U.S. crude oil refinery inputs averaged about 17.6 million barrels per day during the week ending August 11, 2017, 9,000 barrels per day less than the previous week’s average • U.S. crude oil imports averaged over 8.1 million barrels per day last week, up by 364,000 barrels per day from the previous week • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.9 million barrels from the previous week • Total commercial petroleum inventories decreased by 7.3 million …

US commercial crude oil inventories decreased by 6.5 mln barrels

Key highlights from the EIA’s report’s summary of weekly petroleum data for the week ending August 4, 2017: • U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending August 4, 2017, 166,000 barrels per day more than the previous week’s average • Refineries operated at 96.3% of their operable capacity last week • U.S. crude oil imports averaged about 7.8 million barrels per day last week, down by 491,000 barrels per day from the previous week • U.S. commercial crude oil inventories decreased by 6.5 million barrels from the previous week • Total products supplied over the last four-week period …

Domestic crude supplies dropped by 6.3 million barrels

Oil prices rallied Thursday, extending earlier gains after data from the U.S. Energy Information Administration showed that domestic crude supplies dropped by 6.3 million barrels for the week ended June 30. That topped forecasts for a decline of 1.6 million barrels by analysts surveyed by S&P Global Platts, and also came in above the fall of 5.8 barrels reported by the American Petroleum Institute late Wednesday. Supply data were released a day late because of Tuesday’s Independence Day holiday. Gasoline stockpiles also fell by 3.7 million barrels, while distillate stockpiles decreased by 1.9 million barrels last week,

U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks decreased

U.S. crude stocks rose last week while gasoline stocks decreased

U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.

 

Crude inventories rose by 1.6 million barrels in the last week, compared with analyst expectations for a decrease of 435,000 barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.4 million barrels, EIA said.

 

Refinery crude runs rose by 203,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.5 percentage points. Gasoline stocks fell by 618,000 barrels, compared with analysts’ expectations in a Reuters poll for a 1.4

West Texas Intermediate crude oil for April delivery CLJ7,

West Texas Intermediate crude oil price raised for April 2017

West Texas Intermediate Crude Oil Price

 

Oil futures remained higher Thursday after spiking to a session high following a smaller-than-expected rise in weekly U.S. crude inventories.

 

West Texas Intermediate crude oil for April delivery CLJ7, +2.16% on the New York Mercantile Exchange was up 97 cents, or 1.8%, at $54.56 a barrel after trading as high as $54.94 after the Energy Information Administration said U.S. crude supplies rose 600,000 barrels in the week ended Feb. 17.

 

Analysts surveyed by The Wall Street Journal had forecast, on average, a 3.4 million barrel rise. Data from the American Petroleum Institute, an industry trade group, late Wednesday had shown an 884,000-barrel.

 

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