Sentences with phrase «oil inventories »

Energy markets data provider S&P Global Platts has announced the commercial deployment of a blockchain network for sharing oil inventories.

Platt says the network improves upon the «manual and unstructured» process traditionally used by terminal operators when sharing weekly oil inventories to FEDCom.

As a result, American oil inventories have increased by over 41 million barrels since the OPEC announcement.

Futures rose from the settlement after the American Petroleum Institute reported that oil inventories declined 4.81 million barrels to 330.1 million last week.

Moving on, oil prices began to rise on Tuesday, thanks to speculation that U.S. oil inventories will show a decline, market analysts say.

Moving on, oil prices began to rise on Tuesday, thanks to speculation that U.S. oil inventories will show a decline,

Other items include ISM's service - sector index and factory orders today, followed by oil inventories on Wednesday and jobless claims Thursday.

The migrations of crude oil inventories from the Midcontinent to the Gulf Coast will increase exports of refined products.

DeHaan says that continued low gas prices in the U.S. can be attributed mostly to an increase in the amount of crude oil produced in the U.S., with American oil inventories up 27 percent compared to this time last year.

According to the U.S. Energy Information Administration, «U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years.»

What's even more unusual is that they have set a record high at the same time as U.S. crude oil inventories.

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The Crude Oil inventories that will be released at 3:30 GMT today are expected to show a decrease in US stockpiles of 0.5 million barrels.

The market was already moving upward on the back of this morning's EIA report, which reported a draw in crude oil inventories of 1.9 million barrels — the fourth draw in a week.

Crude oil inventories rose by 2.4 m barrels while both gasoline and distillate stocks were lower.

This increase follows the reduction in OPEC's oil production quotas, effective from last November, and low oil inventories in the US.

All markets will continue to focus on the volatility in the equity and bond markets, geopolitical events, developments with the Trump Administration, corporate earnings, oil prices, and will turn to earnings from Apple after the bell today, and reports tomorrow on Japanese PMI, Chinese Caixin PMI, Eurozone GDP, PMI, Unemployment, US MBA Mortgage Applications, ADP Employment Change, Oil Inventories, and the FOMC Meeting Statement for near term direction.

The OPEC Production Cut: A meeting of the OPEC and non-OPEC oil producers last Thursday found that oil inventories in developed economies had dropped to only 12 million barrels over the official target of the cuts — the five - year average.

Rising US crude oil inventories sent prices tumbling this week.

Now the Saudis seem to believe that with oil inventories approaching average and a solid alliance with Moscow, they can let oil prices rise and micromanage the markets at any time.

On Wednesday, Saudi Energy Minister Khalid al - Falih said — after meeting with his Russian counterpart Alexander Novak — that OPEC and non-OPEC producers are committed to do «whatever it takes» to draw the global crude oil inventories down to their five - year average.

U.S. oil inventories continued to streak lower for a record - breaking 10 weeks in a row even as U.S. oil production is approaching record levels.

The energy sector has been out of favor for so long now that the lack of investment combined with OPEC production cuts are pushing down global oil inventories while world economies continue to grow.

But, in fact, available data on oil inventories shows notable declines over the past year.»

The first task is to look for the date of release of oil inventories in the economic calendar.

In the meantime, crude oil inventories remain stubbornly high.

Yesterday, oil prices were boosted by the EIA reporting a fresh draw in crude oil inventories for the week to May 12, at 1.8 million barrels.

crude oil inventories C - STK - T - EIA rose by 2.2 millionbarrels in the week to April 20, to 429.74 million barrels.That's almost 10 million barrels above the five - year average.U.S.

The EIA reports: «At 528.7 million barrels, U.S. crude oil inventories are near the upper limit of the average range for this time of year.»

Joint cuts of 1.8 million b / d have reduced OECD oil inventories towards their five - year average and cleared most of the global glut, with the Saudis cutting even deeper than agreed in an attempt to lift prices well above US$ 80 before selling off shares in Aramco.

Most recent EIA data puts crude oil inventories at 527.

The chart above shows that the U.S. Energy Information Administration estimates that commercial crude oil inventories at OECD countries could hit their lowest in two years by the end of 2017, coinciding with a sharp drop in U.S. inventories.

Global crude oil inventories had reached record highs, and the price of oil Continue Reading

I am expecting crude oil inventories in Cushing to build this week as the net inflow (inflow - outflow) into Cushing showed a modest increase last week.

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It also found oil inventories are beginning to top off in OECD countries, with growth coming in at its slowest rate since the final quarter of 2014.

Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five - year average — the metric that OPEC has vowed to achieve Continue Reading

It's a quiet day on the release front, as the sole event is Crude Oil Inventories.

However, crude oil inventories remain high, with current storage levels near 500 million bbl, which is approximately 9 million bbl ahead of last year.

By then, it could be welcomed by the market to offset a decline in oil inventories and to help prevent oil prices from rising too much.

The OPEC deal seems to finally be bearing fruit in the form of a sharp decline in global crude oil inventories.

OPEC's goal is to bring crude oil inventories back to average levels, not just products.

As the whisper number suggested, oil inventories increased by a whopping 5.32 million barrels, according to the American Petroleum Institute (API).

The American Petroleum Institute (API) reported a draw of 761,000 barrels in United States crude oil inventories, compared to analyst expectations that inventories would build by 3.422 million barrels for the week ending September 22.

The U.S. Energy Information Administration report on oil inventories is due on Wednesday at 10:30 a.m. EDT.

Goldman says the lingering effects will be «modestly bearish,» projecting a 40 - million - barrel increase in crude oil inventories.

The American Petroleum Institute (API) reported a build of 6.181 million barrels in United States crude oil inventories, compared to analyst expectations that inventories would build by 10.1 million barrels for the week ending September 8 as many refineries in the Gulf Coast remain offline and demand in Florida wanes in the wake of the most recent hurricane.

With oil prices already down on the day, the American Petroleum Institute (API) reported a large build of 3.427 million barrels of United States crude oil inventories for the week Continue Reading

Oil prices are falling because crude oil inventories were in good shape heading into the hurricane and because crude oil production will be less affected by the storm.

Overall, however, traders were surprised as declines in US stockpiles since January brought them below the closely watched five - year average for the first time since 2014.3 Quarter - end US oil inventories stood at 429.9 mb, which was 19.5 % below the year - ago level.3