|Day's Range||2.0947 - 2.1000|
U.S. crude oil stockpiles rose last week to their highest in about a year and a half as imports increased, even as refiners sharply ramped up output ahead of the summer driving season, the Energy Information Administration said on Wednesday. At 460 million barrels, crude stocks sit at their highest since October 2017, not including the Strategic Petroleum Reserve, but are at the five year average for this time of year. Net U.S. crude imports rose last week by 877,000 barrels per day to 7.1 million bpd, the heaviest week for imports since mid-February.
Investing.com - Oil prices reached a fresh 2019 high on Tuesday, after the White House confirmed it will not extend waivers for countries that it had previously allowed to purchase Iranian crude.
U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday. ...
The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero Energy, Marathon Petroleum and Royal Dutch Shell
Oil futures finish Thursday, pulling back from their highest level in months as a report from an international agency said data on demand for crude were producing “mixed signals” amid sluggishness in global economies.
Gasoline futures rally on Wednesday to mark their highest finish since October, getting a lift from a hefty decline in weekly U.S. stockpiles of the fuel and providing a boost to oil prices, which rose despite a third-weekly rise in domestic stockpiles.
U.S. crude oil stocks rose more than expected last week to the highest in nearly 17 months as imports climbed, while gasoline inventories posted their steepest drawdown since September 2017, the Energy ...
Oil futures prices fall Tuesday, a day after settling at five-month highs, pressured by expectations that U.S. crude supplies climbed for a third straight week. Comments from a Russian official suggesting that supply cuts may not be necessary after the OPEC-led deal expires in June also put pressure on prices.
Oil futures climb to fresh five-month highs on Monday as fighting in Libya feeds expectations for tighter global supplies.
One of the fathers of the peak oil movement – the idea that the world was reaching its peak capacity to produce oil before a long decline would begin – was Matthew Simmons, who headed an oil and gas boutique investment bank named after him. Simmons was controversial, despised in some quarters but absolutely worshiped by the peak oil advocates. When he would show up at the annual meeting of the Association for the Study of Peak Oil and Gas – yes, there is such a thing – it was almost like that moment at a political convention when the nominee first steps to the podium and the crowd goes wild.
Oil futures end higher Friday, with Brent crude ending above the psychologically important $70-a-barrel threshold for the first time since November.
Investing.com - Oil prices slipped on Friday as a surprise surge in U.S. crude inventories forced a change of direction now lasting three days.
Oil posts a mixed finish, with global benchmark Brent rising to briefly touch $70 a barrel, while the U.S. benchmark retreated for a second day.
Crude inventories rose by 2.8 million barrels in the week to Mar 22, compared with analyst expectations of a decrease of 2.2 million barrels.
Oil prices finish lower on Wednesday after a U.S. government report reveals a weekly increase in domestic crude supplies, defying market expectations for a third-weekly decline.
U.S. crude oil stocks rose unexpectedly last week after a fire disrupted movements on the Houston Ship Channel and slowed exports, while gasoline and distillate inventories fell more than forecast, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.8 million barrels in the week to March 22, compared with analysts' expectations for a decrease of 1.2 million barrels. Net U.S. crude imports rose last week by 114,000 barrels per day as exports alone fell 506,000 bpd.
Oil futures climb Tuesday, with U.S. prices posting their first gain in three sessions, as reductions in global production led by OPEC, as well as supply declines brought on by U.S. sanctions on Iran and Venezuela, continue to support the market.
Oil futures finished higher Tuesday, with U.S. prices up for the first time in three sessions, ahead of the latest weekly reports on U.S. crude and product supplies. The American Petroleum Institute will report inventory data late Tuesday, while the official U.S. government report is due out early Wednesday. The EIA is likely to report that domestic crude supplies fell by 2.2 million barrels for the week ended March 22, according to the average estimate of analysts polled by S&P Global Platts. They also expect to see inventory declines of 3.6 million for gasoline and 800,000 barrels for distillates, which include heating oil. May West Texas Intermediate oil rose $1.12, or 1.9%, to settle at $59.94 a barrel on the New York Mercantile Exchange.
The Zacks Analyst Blog Highlights: Chevron, ConocoPhillips, Phillips 66, Marathon Petroleum and ProPetro
Oil futures decline on Friday, pressured by concerns about global energy demand, but U.S. prices managed to tally a gain for the week, their third in a row, as OPEC output cuts and U.S. sanctions on Venezuela and Iran look to further tighten supplies.
The positive sentiments helped push oil prices to their highest level in four months on Wednesday, with WTI moving past $60 per barrel during intraday trading.
U.S. crude oil stockpiles last week fell by nearly 10 million barrels, the most since July, boosted by strong export and refining demand, the Energy Information Administration said on Wednesday. Net U.S. crude imports fell last week by 660,000 barrels per day as exports alone rose over 800,000 bpd to 3.4 million bpd, near an all-time record. The four-week moving average of exports last week was 3 million bpd, double where it was at this time a year ago, as the four-week average of imports fell to 6.6 million bpd, the lowest since March 1996.