Weekly Crude Oil Storage as of June 30, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.5 million barrels from the previous week. At 452.2 million barrels, U.S. crude oil inventories are at 1% below the five year average for this time of year, according to the EIA crude oil and
CNBC Oil gave up its earlier gains on Wednesday as worries over further interest rate hikes and slowing demand offset support from an industry report showing a larger-than-expected drop in U.S. crude inventories. Benchmark Brent crude prices are down more than 15% this year as rising interest rates hit investor appetite, while China’s economic recovery has faltered after several months of
Weekly Crude Oil Storage as of June 23, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 9.6 million barrels from the previous week. At 453.7 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
Weekly Crude Oil Storage as of June 16, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.8 million barrels from the previous week. At 463.3 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
Weekly Crude Oil Storage as of June 9, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.9 million barrels from the previous week. At 467.1 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
World Oil (Bloomberg) – The Energy Department announced Friday it planned to purchase 3 million more barrels of crude oil for the Strategic Petroleum Reserve. A previous solicitation for about 3 MMbbl resulted in contracts awarded to five companies, with the oil being purchased for an average price of about $73 per bbl, according to a DOE statement. The move
Weekly Crude Oil Storage as of June 2, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.5 million barrels from the previous week. At 459.2 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum
Weekly Crude Oil Storage as of May 26, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.5 million barrels from the previous week. At 459.7 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum
CNBC Oil prices rose on Wednesday after data showed U.S. inventories and fuel supplies tightening and following a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures rose $1.42, or 1.9%, to $78.26 a barrel, while U.S. West Texas Intermediate crude (WTI) gained $1.48, or 2%, to $74.40 a barrel. Saudi Arabia’s
Weekly Crude Oil Storage as of May 19, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 12.5 million barrels from the previous week. At 455.2 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year, according to the EIA crude oil and petroleum
Oil Price Rising demand in China and the United States sent global oil demand surging by 3 million barrels per day (bpd) in March compared to February and hitting the highest level on record, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Total product demand in China jumped by 1.6 million bpd month-on-month to 16.79 million bpd in
Weekly Crude Oil Storage as of May 12, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.0 million barrels from the previous week. At 467.6 million barrels, U.S. crude oil inventories are slightly below the five year average for this time of year, according to the EIA crude oil and petroleum
