Post Tagged with: "Inventories"

Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

U.S. Crude Stockpiles Fall, with Cushing Down for a Seventh Week – EIA

From Reuters


U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell …

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters


Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an …

August 20, 2019 - 6:01 am Closing Bell Story‎, Crude Oil News, Energy News, Midstream
Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters


Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

From Reuters


Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports.

For the week, crude oil benchmarks recorded …

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

From Reuters


Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.

The front-month Brent crude …

Surprise for Oil-watchers: an Unexpected Draw, but will it Repeat?

Surprise for Oil-watchers: an Unexpected Draw, but will it Repeat?

Crude oil inventories fall 6.3 million barrels; WTI climbs from $45 to $46.50 and back

Crude oil inventories decreased by approximately 6.3 million barrels in the week ended June 30. The draw beat consensus, which expected stockpiles to fall by …

Oil Back Under $49: with OPEC Cuts Baked in, Prices Fall as Markets Expects More

Oil Back Under $49: with OPEC Cuts Baked in, Prices Fall as Markets Expects More

OPEC will keep cuts for nine more months

The Organization of Petroleum Exporting Countries announced Thursday that it will extend production cuts for nine more months, through the end of Q1, 2018.

Oil prices dropped more than 5% on Thursday …

Oil Hits One-Month High:  Markets Account for North Sea Outage, OPEC Compliance

Oil Hits One-Month High: Markets Account for North Sea Outage, OPEC Compliance

Inventories build 1.6 million barrels, but prices hang on above $50

Crude oil prices continued to show improvements Wednesday even as the EIA reported builds in crude oil inventories. The agency reported an increase of 1.6 MMBO in stockpiles for …

OPEC Paints Itself into a Corner

OPEC Paints Itself into a Corner

OPEC may extend production cuts as U.S. production rollover adds to inventoryOPEC prepares for its 171st meeting to decide on production cuts

WTI crude oil prices were down again Monday even as news that OPEC was considering extending production cuts reached markets. For a change, prices didn’t reflect the news …

Oil Prices Rise Ahead of OPEC Compliance Meeting

Oil Prices Rise Ahead of OPEC Compliance Meeting

Oil prices move higher as markets expect high levels of compliance among OPEC and non-OPEC members

Oil prices were up over $1 per barrel Friday as markets felt hopeful that OPEC and non-OPEC members taking part in production cuts were …

January 20, 2017 - 4:49 pm Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
A Drop at Cushing Keeps Prices Afloat

A Drop at Cushing Keeps Prices Afloat

Crude oil inventories rose 2.35 MMBO last week

Crude oil inventories grew by 2.35 million barrels in the week ended January 13, 2017, according to the EIA. Economists were expecting a build of approximately 0.13 MMBO, according to information compiled …

January 19, 2017 - 5:33 pm Closing Bell Story‎, Oil and Gas 360 Articles
Gasoline and Natural Gas Futures Up Following Inventory Report

Gasoline and Natural Gas Futures Up Following Inventory Report

Crude oil stocks increase as products draw down

Crude oil inventories rose for the week ended December 23, 2016, according to the Energy Information Administration. Analysts expected a draw of approximately 1.3 MMBO, but the government agency reported 0.6 MMBO …

Source: Sweetcrudereport.com

U.S. Crude Draw was a Million Barrels More than Expected

EIA reports a crude oil draw of 2.4 MMBO

Crude oil inventories fell 2.4 MMBO for the week ended December 2, 2016, according to the Energy Information Administration. The decline in crude stocks was more than 1.0 MMBOPD more than …

Both Crude Oil and Natural Gas Inventories See Weekly Draws

Both Crude Oil and Natural Gas Inventories See Weekly Draws

Crude oil inventories fall 1.3 MMBO

Crude oil inventories saw a modest draw today, falling 1.3 MMBO in the week ended November 18, 2016, according to data released by the Energy Information Administration. Economist anticipated a build of 290 MMBO …

November 23, 2016 - 1:54 pm Closing Bell Story‎, Oil and Gas 360 Articles
Largest Ever Weekly Crude Oil Inventory Build Deep Sixes Oil Prices

Largest Ever Weekly Crude Oil Inventory Build Deep Sixes Oil Prices

The EIA reported a 14.4 MMBO build to U.S. inventories in the week ended October 28

Just when the industry was feeling a little better about its prospects for the balance of 2016, the U.S. Energy Information Administration (EIA) reported …

WTI Closes in on $50 with Decent Crude Oil Draw

WTI Closes in on $50 with Decent Crude Oil Draw

Crude oil inventories fell roughly 3.0 MMBO, sending WTI prices higher

U.S. crude oil futures were up over 2% today, extending gains from earlier this week, as the Department of Energy announced a surprise draw in crude oil inventories. The …

Oil Up 3% Following Surprise Crude Oil Draw

Oil Up 3% Following Surprise Crude Oil Draw

Crude oil stocks fall 6.2 million barrels

Oil prices shot up more than 3% today as U.S. crude stockpiles record the third straight inventory draw for the week ended September 16, 2016. WTI was trading above $45.50 in the afternoon, …

Not Just Another Cycle: Major Shifts Between 2008 and Today

Not Just Another Cycle: Major Shifts Between 2008 and Today

Just because it’s cyclical, doesn’t mean every cycle is the same

They say history repeats itself, and given the cyclical nature of the oil and gas business, many look to the past when trying to guess what is coming next, …

Oil Prices Climb on Lower Inventories and a Potential Strike in Norway

Oil Prices Climb on Lower Inventories and a Potential Strike in Norway

U.S. crude oil stocks fell 4.1 million barrels

Crude oil prices continued to rally today after taking a dive following the Brexit vote last week.

Investors fleeing the pound sterling strengthened the dollar and yen substantially, creating downward pressure on

Oil Surplus Smaller than Expected, but Downward Pressure on Prices Remain – IEA

Oil Surplus Smaller than Expected, but Downward Pressure on Prices Remain – IEA

Oil surplus about 40% smaller than thought a month ago

The global glut of oil is shrinking, and the oil surplus is smaller than it was believed to be a month ago, according to the IEA’s June Oil Market Report

Oil Closes Above $51 on Third Straight Week of Inventory Draws

Oil Closes Above $51 on Third Straight Week of Inventory Draws

U.S. inventory draw of 3.2 MMBO

Crude oil prices settled higher for a third day Wednesday as the Department of Energy reported the third consecutive week of crude oil draws. U.S. inventories decreased by 3.2 MMBO, slightly more than the …

Saudi Arabia Depleting Stocks As Production Remains Flat

Saudi Arabia Depleting Stocks As Production Remains Flat

Saudi stockpiles reach an 18-month low in March

Saudi Arabia’s oil production remained unchanged in the final month of the first quarter, according to reports from OPEC, but as demand for the kingdom’s oil continues to grow, OPEC’s largest …

Oil Prices Jump Above $46 on Inventory Draw, EIA Revises Demand Up

Oil Prices Jump Above $46 on Inventory Draw, EIA Revises Demand Up

Crude oil inventories fell 3.4 MMBO during surprise week-over-week draw

Crude oil inventories fell today, giving markets a pleasant surprise, and sending WTI prices up above $46 per barrel.3 month chart wti

Economist expected a small build for the week ended May 6, …

Oil Rig Count Down as Inventories Continue to Build

Oil Rig Count Down as Inventories Continue to Build

U.S. rig count hits 415

The rig count in the United States continued to decline last week, with Baker Hughes reporting just 415 active rigs. The active rig count for the week ended April 29, 2016, was down 16 rigs …

Crude Oil Inventory Build is Five-Times Larger than Expected

Crude Oil Inventory Build is Five-Times Larger than Expected

U.S. crude oil inventories grow by 2.8 MMBO

Oil prices are down today after an inventory build that exceeded economists’ estimates by a factor of five.

According to data from Bloomberg, economists estimated an average build of 556 MBO, but …

Oil Prices Climb 5% on Surprise Inventory Draw

Oil Prices Climb 5% on Surprise Inventory Draw

Inventories fall 4.9 MMBO

Oil prices surged today following news from the Department of Energy that U.S. inventories declined this week following 7 consecutive weeks of record setting builds. U.S. crude oil inventories declined 4.9 MMBO this week to 529.9 …

Natural Gas Prices Up Slightly after Inventory Draw

Natural Gas Prices Up Slightly after Inventory Draw

U.S. natural gas inventories show 25 Bcf draw

U.S. natural gas inventories saw a larger than expected draw today, according to information from the Department of Energy. The DOE reported natural gas inventories for the week ended March 25, 2016, …

Oil & Gas 360 Energy News

Natural Gas Prices Up after Smaller than Expected Inventory Build

U.S. natural gas inventories show 15 Bcf build

U.S. natural gas inventories saw a smaller than expected build today, according to information from the Department of Energy. The DOE reported natural gas inventories for the week ended March 18, 2016, …

March 24, 2016 - 4:11 pm Closing Bell Story‎, Oil and Gas 360 Articles
Oil Prices Down on 9.4 MMBO Inventory Build

Oil Prices Down on 9.4 MMBO Inventory Build

Crude oil inventory build more than three times larger than expected

Oil prices took a fall today following news from the Department of Energy that crude oil storage saw a much larger than expected build this week. The DOE reported …

March 23, 2016 - 1:59 pm Closing Bell Story‎, Oil and Gas 360 Articles
Oil Prices Fluctuating After 10.4 Million Barrel U.S. Storage Build

Oil Prices Fluctuating After 10.4 Million Barrel U.S. Storage Build

“The market’s not shocked anymore”

The price of both U.S. and international crude oil benchmarks has been fluctuating this morning following news from the Energy Information Administration that crude stockpiles grew by more than 10 million barrels last week. The …