Sentences with phrase «crude stockpiles»
The phrase "crude stockpiles" refers to a large supply or inventory of unrefined oil that is stored and held in reserve for future use. Full definition
NEW YORK (Reuters)- Oil prices settled slightly lower on Wednesday, as a surprise draw in U.S. crude stockpiles triggered a rebound from session lows hit after China proposed a broad range of tariffs on U.S. exports that fed fears of a trade war.
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A Reuters poll showed U.S. crude stockpiles rose by 4.1 million barrels, on average, in the week to Jan. 23.
NEW YORK Oil prices settled slightly lower on Wednesday, as a surprise draw in U.S. crude stockpiles triggered a rebound from session lows hit after China proposed a broad range of tariffs on U.S. exports that fed fears of a trade war.
The U.S. Energy Department's inventory release showed that crude stockpiles recorded a big weekly build as domestic oil production reached another all - time high.Middle East...
The energy sector -LRB--2 %) sank alongside the price of crude oil after U.S. crude stockpiles increased by 1.6 M barrels last week, with WTI May crude futures slipping 1.3 % to $ 64.38 / bbl.
The producers will review the deal at the next OPEC meeting in June to assess how it is impacting oil prices and global global crude stockpiles.
Oil rose as the dollar weakened and before U.S. government data forecast to show crude stockpiles expanded for a seventh week.
Crude extended losses briefly in post-settlement trade, after industry trade group the American Petroleum Institute released weekly inventory figures showing a larger - than - expected crude stockpile build.
On Wednesday, the U.S. government reported that crude stockpiles there increased by a more - than - expected 5 million barrels, rising for a third straight week.
Investors will scour weekly oil inventory statistics from the Energy Information Administration later on Thursday after industry data showed a rise of 2.1 million barrels in crude stockpiles last week.
CNBC's Bertha Coombs reports on crude oil inventories, saying commercial crude stockpiles rose by 3.5 million barrels.
Oil prices showed no sign of fading though, having added as much as 3 % on Wednesday after a third surprise weekly drop in U.S. crude stockpiles boosted the demand outlook in the world's largest oil consumer.
Crude stockpiles posted a surprise build of 6.2 million barrels in the week, according to the U.S. Energy Information Administration..
U.S. crude stockpiles rose 2.43 million barrels to 485 million last week, Energy Information Administration data showed Wednesday.
However, the dramatic year - long decline in U.S. drilling activity is taking a toll on production, causing U.S. crude stockpiles to decline for a record ninth consecutive week, with a drawdown of 2.34 MMbbl reported for the week ending July 15.
Ahead of weekly data, crude stockpiles were forecast building last week while refined product inventories were seen declining, a preliminary Reuters poll showed on Monday.
Oil prices came under pressure on Wednesday as weekly government data showed a larger - than - expected rise of 5 million barrels in U.S. crude stockpiles.
The banks says the long - oversupplied oil market is tightening up more quickly than expected as global economic growth fuels demand and output cuts by OPEC, Russia and several other producers eat into the world's crude stockpiles.
Crude stockpiles have fallen in the OECD, a group of mostly developed nations, throughout the second quarter, OPEC notes in its September bulletin.
Traders look ahead to a fresh batch of crude oil inventory data from the American Petroleum Institute (API) due Tuesday after data last week showed an unexpected build in U.S. crude stockpiles.
On Tuesday, the American Petroleum Institute reported a 4.6 - million - barrel buildup in U.S. crude stockpiles, pushing prices lower.
TOKYO (Reuters)-- Oil prices rose on Thursday, holding onto a late - session rally the previous day, buoyed by the U.S. government data showing a surprise drawdown in crude stockpiles.