U.S. crude oil refinery inputs averaged 14.4 million barrels per day during the week ending September 10, 2021 which was 85,000 barrels per day more than the previous week’s average. Refineries operated at 82.1% of their operable capacity last week. Gasoline production decreased last week, averaging 9.3 million barrels per day. Distillate fuel production decreased last week, averaging 4.2 million barrels per day. U.S. crude oil imports averaged 5.8 million barrels per day last week, down by 48,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.0 million barrels ... (full story)

Oil prices extended gains overnight following across-the-board inventory draws reported by API, as the impact of Hurricane Ida's shut-ins combined with reports from the International Energy Agency this week that the world will have to wait until October for more supply to come online as the Organization of Petroleum Exporting Countries and its allies hike production. “It’s bullish developments left, right and center these days,” said John Kilduff, a partner at Again Capital LLC. “Last night’s report from the American Petroleum Institute that showed an over 5 million barrel draw in crude stocks is helping prices. We ... (full story)