crude inventories last week, according to a source citing the data, while gasoline stocks fell 1.7 million barrels and distillates were down 512,000 barrels. The American Petroleum Institute, an industry trade group, late Tuesday reported a 15 million barrel drop in U.S. “This is very much a timing issue: peak summer refining activity has coincided with very strong end-of-month exports, and draws of such magnitude should not be expected going forward,” he said. October Brent crude BRNV23 added 37 cents, or 0.4, at 85.86 a barrel on ICE Futures. crude inventories on record, said Matt Smith, lead oil analyst for the Americas at Kpler. Prices tallied a fifth straight session climb, the longest since March, according to Dow Jones Market Data. View stock market news, stock market data and trading information. It was the combination of robust crude exports and strong refinery runs that yielded the largest draw to weekly U.S. Oil & Gas Total Stock Market Index index overview by MarketWatch. View the futures and commodity market news, futures pricing and futures trading. “Also weighing on oil is a strong dollar that won’t be going away anytime soon as Treasury yields surge given the increased total of debt sales that will be coming from the Treasury,” Moya told MarketWatch. CLV23 A complete Crude Oil Oct 2023 futures overview by MarketWatch. credit rating: Here’s what you need to know crude oil futures traded as low as 3.83 below crude for front month delivery, the steepest discount since Nov. Rising debt yields lifted the greenback, with the ICE U.S. Treasury yields were on the rise as the Treasury Department detailed plans to increase supply. credit rating to AA+ from AAA by Fitch Ratings was seen as a negative for overall market sentiment. “Oil prices are falling as the macro backdrop is killing sentiment,” said Edward Moya, senior analyst for the Americas at Oanda.Ī downgrade of the U.S. ![]() Gasoline stocks were expected to show a drop of 1 million barrels, with distillate inventories down 400,000 barrels. Gasoline inventories, however, rose by nearly 1.5 million barrels, while distillate stocks fell by 800,000 barrels.Īnalysts surveyed by S&P Global Commodity Insights, on average, had forecast the EIA to show crude inventories fell 3.7 million barrels last week. crude inventories dropped by more than 17 million barrels in the week ended July 28. The Energy Information Administration on Wednesday morning reported that U.S. crude inventories showed a much larger-than-expected drop and traders looked past a decision by OPEC+ to boost output by larger increments in July and. crude supplies post a nearly 11 million-barrel weekly drop Aug. Oil futures ended higher Thursday after U.S. WTI and Brent each saw their biggest one-day percentage decline since June 27, according to Dow Jones Market Data.įell 3.4% to $2.776 a gallon, while September heating oilĬlosed at $2.477 per million British thermal units, down 3.2%. Oil prices end at a more than 2-week high as U.S. The global benchmark, dropped $1.71, or 2%, to settle at $83.20 a barrel on ICE Futures Europe. West Texas Intermediate crude for September deliveryįell $1.88, or 2.3%, to end at $79.49 a barrel on the New York Mercantile Exchange. and global benchmarks suffering their biggest one-day declines in more than a month. On Tuesday, the front-month April West Texas Intermediate crude futures contract CL.1, -1.42 CLJ22 fell 6.57, or 6.4, to settle at 96.44 a barrel on the New York Mercantile Exchange. crude inventories wasn’t enough to lift oil futures Wednesday, with the U.S. ‘I’m moving from L.A.A historic drop in U.S. crude supplies post a nearly 11 million-barrel weekly drop MarketWatch. Semtech announces Mark Lin as incoming CFO Oil prices end at a more than 2-week high as U.S. Want to retire, but need to keep working? Sometimes you can’t do either. ‘We’re dreaming of a new life’: My wife and I have $2.5 million saved. Is it a bad idea to get married?Īppeals court scales back order squelching Biden administration contact with social media platforms ‘I’m conflicted’: My fiancé earns less than me, and racks up credit-card debt. ![]() ‘She needs the money for care’: My 103-year-old grandmother’s adviser bought 5 bank stocks. ‘The dream of homeownership is alive,’ says BofA’s head of retail lending. ![]() Should I follow the 4% rule if I don’t want to leave an inheritance? I’m retiring at 65 with $2 million, an $850,000 home and $3,500 a month in Social Security.
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