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  • EIA: US Crude oil inventories down by 3.7M barrels

    From breakingthenews.net

    Commercial crude oil inventories in the United States, not considering those in the Strategic Petroleum Reserve (SPR), in the week ending on August 2 were down 3.7 million barrels, the Energy Information Administration (EIA) stated in its report published on Wednesday. At the same time, crude refinery inputs stood at an average of 16.4 million barrels per day (bpd) during the same week, representing a 252,000 bpd increase compared to last week's average. Refineries operated at 90.5% of their operable capacity last week. Gasoline production increased last week, averaging 10.0 million barrels per day. Crude oil imports ... (full story)

Added at 10:38am

Added at 10:40am

  • WTI Extends Bounce Off 6-Mo Lows After Sixth Straight Weekly Crude Draw

    From zerohedge.com

    Oil prices have rebounded strongly overnight on the heels of the BoJ's big dovish 'fold', which trumped the across-the-board inventory builds reported by API. Additionally, traders are also closely monitoring geopolitical risks. In the Middle East, nations are bracing for a potential Iranian attack on Israel as payback for assassinations of Hezbollah and Hamas leaders. Ukrainian troops also launched a rare cross-border attack into Russia. API • Crude +0.18mm • Cushing +1.07mm • Gasoline +3.31mm • Distillates +1.22mm DOE • Crude -3.728mm (-800k exp) • Cushing +579k • Gasoline +1.34mm • Distillates ... (full story)

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