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On Thursday, West Texas Intermediate crude oil futures fell 4.9% to settle at $72.90 per barrel. Brent ( BZ=F ) crude oil, the international benchmark price, fell by 4.63% to close at $77.42 per ...
U.S. crude oil and distillate inventories were expected to have fallen last week, while gasoline stocks likely rose, a preliminary Reuters poll showed ahead of a report from the American Petroleum ...
If correct, that would be the first time energy firms pulled oil out of storage for four weeks in a row since August, and would compare with an increase of 2.9 million barrels in the same week ...
Since U.S. WTI Midland crude oil transactions joined the dated Brent price assessment a year ago, U.S. oil exports have overshadowed the role of Cushing as a storage and pricing hub, traders and ...
Oil prices pared back earlier gains after the latest Energy Information Administration data showed a surprise crude build of 1.34 million barrels last week, versus expectations for a draw.
By May 2007 Cushing's inventory fell by nearly 35% as the oil-storage trade heated up. [5] "The trend follows a spike in oil futures prices that has created incentives for traders to buy crude oil and oil products at current rates, sell them on futures markets and store them until delivery." —
A small dip in refinery operations this week to 90.8% which is down from last year at (94.1%) led to a surprise build in crude oil inventories.Technicals An Unexpected Inventory Build Failed to ...
Crude oil is steady, as West Texas Intermediate is trading around the $57 level. Investors are keeping an eye on EIA crude inventories, which will be released at 16:00 GMT.