Oil Prices Unmoved After API Reports Small Crude Build

Oil Prices Unmoved After API Reports Small Crude Build

The American Petroleum Institute (API) reported a build this week for crude oil of 736,000 barrels, while analysts predicted a draw of 1.2 million barrels. The small build comes as the Department of Energy released 7.7 million barrels from the Strategic Petroleum Reserves in Week Ending June 10. US crude inventories have shed some 74 … Read more

Diesel Prices Hit New Record On Wednesday

Diesel Prices Hit New Record On Wednesday

Diesel prices hit yet another new record on Wednesday at $5.43 per gallonnow some $1.2 more than a gallon of gasoline, according to AAA. While high prices at that pump for gasoline have somewhat leveled off, diesel continues to steadily rise, causing an increase in prices of consumer goods because it fuels the trucks that … Read more

API Shows Large Crude Inventory Drawdown

API Shows Large Crude Inventory Drawdown

The American Petroleum Institute (API) reported a larger-than-anticipated draw this week for crude oil of 3.479 million barrels, compared to analyst predictions of a 1.167 million barrel draw. US crude inventories have shed some 73.5 million barrels since the start of 2021 and about 17.5 million barrels since the start of 2020. In the week … Read more

Oil Prices Fall On Larger Than Expected Crude Inventory Build

Oil Prices Fall On Larger Than Expected Crude Inventory Build

The American Petroleum Institute (API) reported a surprise build this week for crude oil of 4.784 million barrels, compared to analyst predictions of a much smaller 600.000 barrel build. US crude inventories have shed some 71 million barrels since the start of 2021 and about 14 million barrels since the start of 2020. In the … Read more

Unexpected Crude Draw Fails To Move Oil Prices

Unexpected Crude Draw Fails To Move Oil Prices

The American Petroleum Institute (API) reported a surprise draw this week for crude oil of 4.496 million barrels, compared to analyst predictions of a 2.533 million barrel build. US crude inventories have shed some 76 million barrels since the start of 2021 and about 19 million barrels since the start of 2020. In the week … Read more

Oil Prices Slip On Huge Crude Inventory Build

Oil Prices Slip On Huge Crude Inventory Build

Crude oil prices moved lower today after the US Energy Information Administration reported that crude oil inventories had added 9.4 million barrels in the week to April 8. At 421.8 million barrels, oil inventories are about 13 percent below the five-year average for this time of the year. Last week’s build compared with an inventory … Read more

Oil Prices Hold Gains Despite Major Crude Inventory Build

Oil Prices Hold Gains Despite Major Crude Inventory Build

The American Petroleum Institute (API) reported a surprise build this week for crude oil of 7.757 million barrels, compared to analyst predictions of a 1.367 million barrel build. US crude inventories have shed some 72 million barrels since the start of 2021 and about 14 million barrels since the start of 2020. In the week … Read more

Oil Prices Slip On Crude, Distillates Inventory Build

Oil Prices Slip On Crude, Distillates Inventory Build

The American Petroleum Institute (API) reported a surprise build this week for crude oil of 1.080 million barrels, compared to analyst predictions of a 1.558 million barrel draw. US crude inventories have shed some 79 million barrels since the start of 2021 and about 22 million barrels since the start of 2020. In the week … Read more