U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending October 20, 2023, which was 206 thousand barrels per day less than the previous week’s average. Refineries operated at 85.6% of their operable capacity last week. Gasoline production increased last week, averaging 9.8 million barrels per day. Distillate fuel production increased last week, averaging 4.7 million barrels per day. U.S. crude oil imports averaged 6.0 million barrels per day last week, increased by 71 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 ... (full story)

Oil prices slipped lower this morning after treading water for most of the night after the API report. Disappointing data on European economic activity helped weigh on oil prices Tuesday, as did the release of more Hamas hostages and the delay of the expected Israeli ground invasion of Gaza. "The fears of a further escalation in hostilities between Israel and Hamas remain, but have lost some of their intensity," said David Morrison, senior market analyst at Trade Nation, in emailed commentary. Brent crude prices have remained stubbornly within the $90 per barrel range, emphasizing the medium-term outlook’s dependence ... (full story)