Tag: buildup

EIA data likely to show 2.9M barrels of oil stock build up

EIA data likely to show 2.9M barrels of oil stock build up

¬†Economist Philip Verleger, using monthly storage costs at 50 cents/b, calculated the returns to storage for WTI were positive as of April 1 New York -According to analysis by Platts oil futures editor Geoffrey Craig,¬†with U.S. refinery run rates already quite high, the potential for data this week to show further increases appears limited, and […]