Archives for August 2016
Crude oil and gasoline gluts beginning to shrink
Although oil and refining production levels are actually on the rise, the amount of liquids sitting in storage are falling. Crude inventories fell by 2.5 million barrels from last week, while gasoline stockpiles dipped by...
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Market Currents: Weak oil exports seen from some parts of OPEC
Today’s weekly EIA inventory report has provided a very (very) welcome distraction from the production freeze jawboning. A solid draw to crude stocks, helped in large part by another large draw to the West Coast...
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Flooding forces Exxon to shut down Louisiana refinery
Exxon Mobil curbed operations at the fourth-largest U.S. refinery in the U.S. as record flooding in Louisiana shut roadways, sent tens of thousands fleeing from their homes and threatened the state’s oil infrastructure. The...
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Oil’s 4-day run comes to an end
Oil halted its advance after the biggest four-day gain since April as weekly industry data showed U.S. gasoline stockpiles expanded, keeping supplies at the highest seasonal level in more than two decades. West Texas Intermediate...
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Market Currents: OPEC oil exports at 25 million barrels per day
Conflicting commentary from various key global producers about a potential production freeze continues to encourage prices higher. A shifting focus towards another round of impending inventory data awaits us tomorrow, but today my friends, prices...
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