Friday, May 9, 2025
Oil prices rise 2% on fuel demand optimism- oil and gas 360

Oil prices rise 2% on fuel demand optimism

Reuters NEW YORK -Oil prices rose 2% on Wednesday, after U.S. distillate inventories posted a large drawdown and refining activity picked up, boosting hopes for rising fuel demand. The market remained concerned, however, about India’s surging coronavirus cases. Brent crude futures were up $1.23, or 1.9%, to $67.65 a barrel by 10:53 a.m. EDT (1453 GMT). U.S. West Texas Intermediate

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 0.1 million barrels

Weekly Crude Oil Storage as of April 23, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.1 million barrels from the previous week. At 493.1 million barrels, U.S. crude oil inventories are at the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage