U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending September 16, 2022 which was 333,000 barrels per day more than the previous week’s average. Refineries operated at 93.6% of their operable capacity last week. Gasoline production increased last week, averaging 9.5 million barrels per day. Distillate fuel production increased last week, averaging 5.2 million barrels per day. U.S. crude oil imports averaged 6.9 million barrels per day last week, increased by 1.2 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million ... (full story)

Crude prices remain higher this morning ahead of the official inventory data, but have pared gains from overnight anxiety related to Putin's escalating war rhetoric, as traders focused more on the impact of The Fed. “Macro markets are definitely the elephant in the room right now with rates and the dollar really keeping a lid on crude rallies,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. Adding to bearish sentiment, China issued a giant new quota to export refined fuels, according to a local industry consultant, which could weigh on oil product markets. API • Crude +1.035mm • Cushing ... (full story)