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Tag Archives: u.s. crude stocks

Oil falls as spotlight returns to global glut

LONDON – Crude oil futures fell on Wednesday as investor focus shifted back to a deep global supply glut and away from the threat of escalating violence in the Middle East, which pushed prices to two-week highs the previous day. Brent fell 48 cents at $45.64 a barrel at 0900 GMT, reversing brief gains earlier in the session. The benchmark ...

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U.S. refineries start to return from maintenance: Kemp

LONDON – Total stocks of crude oil and refined products in commercial storage across the United States dropped for the second week running last week, the first back-to-back fall since May, according to the U.S. Energy Information Administration (EIA). More than 1.4 million barrels per day (bpd) of refinery capacity is still offline for routine maintenance and upgrades after the ...

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U.S. crude rises after inventory drawdown at Cushing hub

TOKYO – U.S. crude futures rose from multi-week lows in thin early Asian trade on Wednesday after an industry group reported that stocks fell at the Cushing hub in Oklahoma, the delivery point for U.S. oil contracts. Crude stocks at the Cushing delivery hub fell by 748,000 barrels, data from the industry group, the American Petroleum Institute, showed late on ...

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Oil prices fall as glut worries worsen

LONDON – Oil prices fell on Tuesday, extending losses into a third week, on worries over a supply glut and with U.S. inventory data expected to show another increase in crude stocks. Brent for December delivery had fallen 30 cents to $47.24 a barrel by 1150 GMT, after settling the previous session down 45 cents. U.S. crude dropped 55 cents ...

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U.S. oil stockpiles jump for second week as imports climb

NEW YORK – U.S. crude stocks rose sharply a second straight week as rising imports more than offset a small increase in crude runs, while gasoline and distillate inventories both fell more than expected, data from the Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose 8 million barrels to 476.6 million in the week to Oct. 16, more ...

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U.S. crude stockpiles fall more than expected last week – EIA

NEW YORK – U.S. crude oil stocks fell more than expected last week, while gasoline inventories increased and distillates drew down unexpectedly, data from the Energy Information Administration showed on Wednesday. Crude inventories fell 1.9 million barrels in the week to Sept. 18, the second straight weekly drawdown, compared with analysts’ expectations for a decrease of 533,000 barrels. The fall ...

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U.S. crude down after big gasoline build; Brent steady

NEW YORK – Oil prices were mixed in volatile trading on Wednesday after a huge drawdown in U.S. crude stockpiles was countered by a larger-than-expected build in gasoline and distillates, which include diesel. Crude inventories fell 5.5 million barrels in the week to Aug. 21, the biggest one-week decline since early June, according to government data that countered analysts’ expectations ...

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Oil trader Hall’s fund down $500 mln after July market rout

Renowned oil trader Andy Hall suffered his second-biggest monthly loss ever in July in a “brutal month” that left his hedge fund about $500 million poorer, telling investors he failed to anticipate a sudden market shift that roiled crude. Hall’s Astenbeck Capital Management in Southport, Connecticut, was the latest commodity fund to be hit by plummeting crude oil prices, following ...

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Oil trades close to multi-month lows, Brent below $50

LONDON – Oil traded near multi-month lows on Thursday with Brent under $50 a barrel as a supply glut persisted despite record U.S. refinery runs, and little sign of any reduction in production. Brent crude futures were down 35 cents at $49.24 a barrel at 1319 GMT after dipping to $49.02 on Wednesday, the lowest since Jan. 30. U.S. crude ...

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