Monday, March 2, 2026
Oil nears $75 as U.S. inventory drop counters virus concerns-oil and gas 360

Oil nears $75 as U.S. inventory drop counters virus concerns

Reuters LONDON – Oil rose towards $75 a barrel on Wednesday ahead of an industry report expected to show U.S. crude inventories fell, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections. Official U.S. Energy Information Administration inventory figures are out at 1430 GMT. [EIA/S] On Tuesday, two market sources citing American Petroleum

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

U.S. crude oil inventories decrease by 4.1 million barrels

Weekly Crude Oil Storage as of July 23, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.1 million barrels from the previous week. At 435.6 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year, according to the EIA crude oil and petroleum