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The Commodities Feed: Natural gas under pressure
ICE Brent settled almost unchanged yesterday with little in the way of fresh developments. The EIA released its latest inventory report, which showed that US crude oil inventories increased by 533Mbbls over the last week. This was less than the 3.38MMbbls build the API reported the previous day. However, crude oil stocks increased by 4.27MMbbls at Cushing, leaving total inventories at the WTI delivery hub at 35.69MMbbls - the highest since December 2021. The build in Cushing has coincided with weakness in the prompt WTI spread, which is trading in contango at the moment. Changes in refined product stocks over the ... (full story)
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- Posted: Jan 25, 2023 9:40pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 93
