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Crude Inventory Rose 8.7 Million Barrels Last Week, Says EIA
U.S. crude oil refinery inputs averaged 15.3 million barrels per day during the week ending January 31, 2025, which was 159 thousand barrels per day more than the previous week’s average. Refineries operated at 84.5% of their operable capacity last week. Gasoline production decreased last week, averaging 9.2 million barrels per day. Distillate fuel production decreased last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 6.9 million barrels per day last week, increased by 467 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 ... (full story)
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EIA: US GASOLINE STOCKPILES ROSE IN THE LATEST WEEK TO THE HIGHEST SINCE JANUARY 2024.
— FinancialJuice (@financialjuice) February 5, 2025
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WTI Extends Losses After Biggest Crude Inventory Build In A Year
Oil prices are leaking lower this morning after surging yesterday on Trump's "maximum pressure" plan for Iran as traders weigh the effect of a US-China trade war on demand. “Trump tariff chaos and trade war is no good for global growth and oil demand growth,” said Bjarne Schieldrop, chief commodities analyst at SEB AB. “But supply disruptions, as so often before, can then rapidly and suddenly turn everything around.” API reported yuuge builds for Crude and gasoline overnight but a large draw for Distillates (cold weather?)... API • Crude +5.025mm • Cushing +110k • Gasoline +5.4mm • ... (full story)