Tag: drawdown
Crude stocks likely to fall 1.9 million barrels – Platts
Concerns that refiners will begin slowing down were confirmed in quarterly earnings calls last week Expected drawdowns in US stocks of crude, gasoline and distillates might not be enough to alter the bearish narrative gripping the oil market, with traders focused on weak refining margins undermining the entire complex, according to a Monday preview of […]
Underwhelming draw in US crude oil spur selloff in oil futures – Platts
US gasoline stocks steady last week, falling to 238.876 million barrels, but still 11.54% above 5-year average NEW YORK – US crude oil inventories declined for the seventh consecutive week, according to Energy Information Administration data for the reporting week ended July 1. However, the size of the draw down fell short of market expectations, causing […]
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