After breaking above US$ 60/bbl, both crude oil benchmarks strengthened further despite surprising stockbuild in the US. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -13.81 mmb to 1284.77 mmb in the week ended February 19....
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -15.05 mmb to 1298.58 mmb in the week ended February 12. Crude oil inventory sank -7.26 mmb (consensus: -2.43 mmb) to 461.76 mmb. Stockpile decreased in 3 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -11.17 mmb to 1313.63 mmb in the week ended February 5. Crude oil inventory sank -6.65 mmb (consensus: +0.99 mmb) to 469.01 mmb. Stockpile decreased in 4 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +2.92 mmb to 1324.8 mmb in the week ended January 29. Crude oil inventory slipped -0.99 mmb (consensus: +0.45 mmb) to 475.66 mmb. Stockpile decreased in 4 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -11.71 mmb to 1321.88 mmb in the week ended January 22. Crude oil inventory dropped -9.91 mmb (consensus: +0.43 mmb) to 476.65 mmb. Stockpile decreased in 4 out...
Crude oil prices consolidate narrowly around 11-month high. After rebounding about 20% from the March low, upside momentum appears fading. Traders are increasingly concerned about the demand outlook which could be hurt by resurgence in coronavirus cases in China. The Chinese government reported 793 new cases last week, compared...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -9.43 mmb to 1334.27 mmb in the week ended January 8. Crude oil inventory dropped -3.25 mmb (consensus: -2.27 mmb) to 482.21 mmb. Stockpile decreased in 4 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -1.66 mmb to 1343.7 mmb in the week ended January 1. Crude oil inventory fell -8.01 mmb (consensus: -2.13 mmb) to 485.46 mmb. Stockpile decreased in ALL 5...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -6.24 mmb to 1367.64 mmb in the week ended December 11. Crude oil inventory fell -3.14 mmb (consensus: -1.94 mmb) to 500.1 mmb. Stockpile decreased in 3 out...
According to the CFTC Commitments of Traders report for the week ended December 8, NET LENGTH for crude oil futures decreased -2 536 contracts to 514 629 for the week. Speculative long position fell -6 251 contracts, while shorts dropped -3 715 contracts. For refined oil products, NET LENGTH...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +19.93 mmb to 1373.89 mmb in the week ended December 9. Crude oil inventory rose 15.19 mmb (consensus: -1.42 mmb) to 503.23 mmb. Stockpile increased in 4 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +0.12 mmb to 1353.96 mmb in the week ended November 27. Crude oil inventory slipped -0.68 mmb (consensus: -2.36 mmb) to 488.04 mmb. Stockpile decreased in 3 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -1.07 mmb to 1353.84 mmb in the week ended November 20. Crude oil inventory dropped -0.75 mmb (consensus: +0.13 mmb) to 488.72 mmb. Stockpile decreased in 4 out...
According to the CFTC Commitments of Traders report for the week ended November 17, NET LENGTH for crude oil futures jumped +17 273 contracts to 480 811 for the week. Speculative long position added +4 502 contracts, while shorts slumped -12 771 contracts. For refined oil products, NET LENGTH...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended November 6. Crude oil inventory gained +4.28 mmb (consensus: -0.91 mmb) to 488.71 mmb. Stockpile increased in 2 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended October 30. Crude oil inventory dived -8 mmb (consensus: +0.89 mmb) to 484.43 mmb. Stockpile increased in 4 out...
The front-month WTI crude oil contract slumped to the lower in 4 weeks as increase in US inventory almost quadrupled expectations. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the...
The meeting among OPEC+ producers to discuss about revision of output cuts was inconclusive. While a number of OPEC+ producers agreed that weak oil demand outlook might justify more reduction in output, it's yet to know how much more is needed. A greater problem is compliance. As we noted...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended October 9. Crude oil inventory fell -3.82 mmb (consensus: -2.84 mmb) to 489.11 mmb. Stockpile gained in 3 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -0.57 mmb to 1421.11 mmb in the week ended September 25. Crude oil inventory dropped -1.98 mmb (consensus: +1.57 mmb) to 492.43 mmb. Stockpile decreased in 4 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dived -7.48 mmb to 1421.68 mmb in the week ended September 18. Crude oil inventory dropped -1.64 mmb (consensus: +2.33 mmb) to 494.41 mmb. Stockpile decreased in 3 out...
Crude oil price rebounded as hurricane Sally damaged production facilities while US inventory resumed decline last week. The front-month WTI crude oil contract extended gain for second day, rising to a 1.5- week high og US$40.34/bbl before settling at 40.16. The Brent contract also climbed higher. US Bureau of...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained -3.42 mmb to 1124.86 mmb in the week ended September 4. Crude oil inventory gained +2.03 mmb (consensus: -1.34 mmb) to 500.43 mmb. Stockpile rose in 4 out...
Crude oil prices plunged more than -2% on profit-taking. The front-month WTI contract settled at US$41.51/bbl, lowest since August 7. The front-month Brent contract fell to US$44.43/bbl, lowest since August 21, at close. WTI-Brent spread widened to US$ 2.92/bbl. The correction came in despite sharp draw in US inventory....
Crude oil prices firmed with WTI-Brent spread narrowing slightly on Wednesday. Hurricane Laura, now a catastrophic Category 4 hurricane, is expected to an “unsurvivable storm surge,” extreme winds and flash floods over Eastern Texas and Louisiana. This could likely cause damage in oil production facilities in Gulf Coast. Meanwhile,...
According to the CFTC Commitments of Traders report for the week ended August 18, NET LENGTH for crude oil futures declined -10 240 contracts to 510 695 for the week. Speculative long position fell -17 242 contracts, while dropped -7 002. For refined oil products, NET LENGTH for gasoline...
Crude oil prices weakened despite decline in US inventory levels. At the video conference held by the OPEC+ Joint Ministerial Monitoring Committee, oil producers warned that “the pace of recovery appeared to be slower than anticipated. Yet, they dismissed increasing output cut from the current deal. The report from...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -2.11 mmb to 1452.57 mmb in the week ended August 12. Crude oil inventory declined -4.51 mmb (consensus: -2.88 mmb) to 514.08 mmb. Stockpile fell in 2 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -2.11 mmb to 1452.57 mmb in the week ended July 31. Crude oil inventory declined -7.37 mmb (consensus: -3 mmb) to 518.6 mmb. Stockpile fell in 3 out...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +8.82 mmb to 1461.16 mmb in the week ended July 24. Crude oil inventory slumped -10.61 mmb (consensus: +0.36 mmb) to 525.97 mmb. Stockpile fell in 4 out...
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