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  • Crude Inventory Climbed 2 Million Barrels Last Week, Says EIA

    From streetinsider.com

    U.S. crude oil refinery inputs averaged 16.3 million barrels per day during the week ending June 10, 2022 which was 67,000 barrels per day less than the previous week’s average. Refineries operated at 93.7% of their operable capacity last week. Gasoline production decreased last week, averaging 10.0 million barrels per day. Distillate fuel production decreased last week, averaging 4.9 million barrels per day. U.S. crude oil imports averaged 7.0 million barrels per day last week, increased by 0.8 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million ... (full story)

Added at 10:40am

  • WTI Holds Losses After Unexpected Crude Build, Production Increase

    From zerohedge.com

    Oil pries are modestly lower this morning, extending on yesterday's losses as traders weigh the impact of Fed tightening and Biden's letter to 'Big Oil' against China's solid overnight data. "It appears that market participants got cold feet ahead of today's Fed decision, as a stronger tightening of monetary policy could have negative effects on oil demand," Commerzbank analyst Carsten Fritsch said in a note. For now, while markets are calmly sitting on their hands ahead of the major event risk today at 1400ET, all algo's eyes will be on the inventory/demand data. API • Crude +763k (-1.2mm exp) • Cushing ... (full story)

so how would this affect the price of crude oil?
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