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The MSR - Monthly Statistical Report
An overall tightness in the global oil market had the U.S. crude oil benchmark rising to a nine-month high and motor gasoline prices moving to 90 cents above the five-year average. The price increase was primarily a result of the contraction in global supply from the oil production cuts from Saudi Arabia and Russia of more than 1 million barrels per day. Refinery disruptionsin Texas and Louisiana, partially due to the prolonged heatwave, also contributed. These dynamics were reflected in the Consumer Price Index, which is a measure of price inflation in the U.S. and shapes the financial well-being of American ... (full story)