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Crude Inventory Data Shows Decline of 2.2 Million Barrels Last Week
U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending September 29, 2023, which was 463 thousand barrels per day less than the previous week’s average. Refineries operated at 87.3% of their operable capacity last week. Gasoline production decreased last week, averaging 8.8 million barrels per day. Distillate fuel production decreased last week, averaging 4.7 million barrels per day. U.S. crude oil imports averaged 6.2 million barrels per day last week, decreased by 1.0 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.9 ... (full story)
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WTI Tumbles To 1-Month Lows As Gasoline Demand Plunges
Oil prices are plunging overnight as worsening sentiment across markets over the last few days, spurred by a higher-for-longer outlook for global interest rates, has trumped any physical tightness fears even as Saudi Arabia and Russia reaffirmed that they will continue output curbs until the end of the year. API • Crude -4.21mm (unch exp) • Cushing +705k • • Gasoline +3.95mm (+300k exp) • Distillates +349k (-400k exp) DOE • Crude -2.22mm (unch exp) Cushing +132k • Gasoline +6.48mm (+300k exp) • Distillates -1.27mm (-400k exp) Crude inventories fell for the 3rd strauight week but stocks at the Cushing ... (full story)