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Crude Inventory Increased by 4.6 Million Barrels Last Week, Says EIA
U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending September 24, 2021 which was 67,000 barrels per day more than the previous week’s average. Refineries operated at 88.1% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 6.6 million barrels per day last week, up by 87,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels ... (full story)
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WTI Dips After Surprise Crude Build, Production Rebounds From Ida
Oil prices see-sawed overnight, with WTI sliding back to a $73 handle after API's reported across the board inventory builds, but found support and has rallied back to almost unchanged ahead of this morning's official data. "The oil rally is taking a bit of a pause...as there is a perception that the market has gone up too fast and the fact that we saw builds in the American Petroleum Institute (API) supply report," said Phil Flynn, senior market analyst at The Price Futures Group. Traders are anxious for the official data to prove API right... or wrong. API • Crude +4.127mm (-2.5mm exp) • Cushing +359k • ... (full story)