Archives for 2016
Oil stockpile slides, but prices stay flat
The amount of oil stored in U.S. tanks declined by 1.3 million barrels last week, the Energy Department said Wednesday, but crude prices remained flat. The decline came after two consecutive weekly inventory builds that...
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Market Currents: Iran exports into EU ramping up
Happy Thanksgiving Eve! A fairly neutral EIA report – tilted a wee bit bullish for crude, bearish for the products – has been a welcome distraction, before a surgical focus has returned to every rumor...
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Gas prices down; Thanksgiving travel up
Average U.S. gasoline prices are the second-lowest in eight years, driving projected Thanksgiving weekend travel to levels not seen since before the Great Recession. U.S. regular-grade gasoline averaged $2.16 per gallon this week, up 6...
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North Sea oil glut diminishes as supplies move east
A glut of North Sea oil that’s helped depress global prices and heap pressure on OPEC is poised for short-term relief after traders booked tankers to take as much as half of the region’s key...
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Market Currents: US is 3rd largest recipient of OPEC oil
And it is Groundhog Day again, as the OPEC rumor-mill gets cranked up once more. Fortunately we get the welcome distraction of an inventory report tomorrow, while some respite follows that in the form of...
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