Oil Price The Department of Energy has issued an invitation for bids for some 3 million barrels of crude that will go into the strategic petroleum reserve as part of refill efforts. In the announcement, the DoE twice noted that it had sold oil from the SPR at much higher prices than it is buying it now back at, with the difference
Weekly Crude Oil Storage as of October 27, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.8 million barrels from the previous week. At 421.9 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year, according to the EIA crude oil and
Nasdaq NEW YORK – U.S. waterborne imports of crude from OPEC+ members including Saudi Arabia have dropped steadily over the last year, further tightening supplies in the U.S. while supporting other markets including Europe, according to flows data and analysts. Going forward, the level of U.S. crude imports from OPEC and other exporters and U.S. shipments to Europe will probably have a
Weekly Crude Oil Storage as of October 20, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 421.1 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year, according to the EIA crude oil and
Nasdaq The U.S. Department of Energy said on Thursday it hopes to buy six million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January, as it continues its plan to refill the emergency stockpile. The DOE added that it will continue refilling the reserve with monthly solicitations through at least May 2024, for volumes
Weekly Crude Oil Storage as of October 13, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.5 million barrels from the previous week. At 419.7 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of October 6, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 10.2 million barrels from the previous week. At 424.2 million barrels, U.S. crude oil inventories are about 3% below the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of September 29, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 414.1 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year, according to the EIA crude oil and
Nasdaq LONDON – Portfolio investors appear to have finished their petroleum buying as benchmark crude prices climbed towards $100 per barrel, prompting concerns about the trade becoming crowded and some profit-taking. Hedge funds and other money managers sold the equivalent of 25 million barrels in the six most important petroleum futures and options contracts over the seven days ending
Weekly Crude Oil Storage as of September 22, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 416.3 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year, according to the EIA crude oil and
CNBC Oil prices rose on Friday as renewed global supply concerns from Russia’s fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates. Brent futures were up 80 cents, or 0.86%, at $94.10 a barrel by 1154 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by 95 cents, or 1.06%, to $90.58 a barrel. Brent
Weekly Crude Oil Storage as of September 15, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.1 million barrels from the previous week. At 418.5 million barrels, U.S. crude oil inventories are about 3% below the five year average for this time of year, according to the EIA crude oil and
