Oil settled below $77 a barrel Tuesday as the stock market swung between losses and gains on mixed economic news. After a run-up from $72 a barrel at the end of August, crude oil has again slowed its advance, mainly on concerns about the strength of the global economy. While positive news on China’s economy [...] [...more]
Crude oil traded near a six-week low as rising U.S. jobless claims and a contraction in manufacturing added to concern growth in the world’s biggest oil-consuming nation is slowing. Oil, down 1.3 percent this week, fell yesterday after the Labor Department said weekly claims for unemployment benefits climbed to the highest level since November. The [...] [...more]
U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending August 13, 172 thousand barrels per day above the previous week’s average. Refineries operated at 90.0 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased last week, [...] [...more]
Inventories The Department of Energy reported that in the week ending August 6th, 2010, U.S. crude oil decreased by 3.0 million barrels, gasoline inventories increased by 0.4 million barrels, distillate inventories increased by 3.5 million barrels, and total petroleum inventories increased by 0.1 million barrels. Inventories remain at 10-year highs, while product inventories maintain record [...] [...more]
Crude futures fell 2.8%, following the release of a U.S. government inventories report which showed gasoline stockpiles rose for the seventh-straight week, spurring concerns the faltering global recovery cannot support demand. Light, sweet crude for September delivery settled down $2.23 at $78.02 a barrel on the New York Mercantile Exchange, after falling as low as [...] [...more]
U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending August 6, 509 thousand barrels per day below the previous week’s average. Refineries operated at 88.1 percent of their operable capacity last week. Gasoline production decreased last week, averaging 9.3 million barrels per day. Distillate fuel production decreased slightly last [...] [...more]
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