By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Commodities > U.S. crude oil, fuel stocks down as exports surge, imports drop – EIA
Commodities

U.S. crude oil, fuel stocks down as exports surge, imports drop – EIA

News Room
Last updated: 2023/09/20 at 12:54 PM
By News Room
Share
3 Min Read
SHARE

Investing.com – U.S. stockpiles of crude oil and fuel products fell across the board last week as exports surged and imports fell amid a cutback as well in refining activity as the busy summer driving period ended, a government report said Wednesday.

The fell by 2.136 million barrels during the week ended Sept. 15, according to the Weekly Petroleum Status Report of the U.S. Energy Information Administration, or EIA. Analysts tracked by Investing.com had expected a crude build of 0.25M barrels instead for last week to add to the 3.955M gain in the prior week to Sept. 8.

On the fuels side, the EIA reported a decline of 0.831M barrels. The forecast consensus had been for a gasoline build of 1.1M barrels that would have added to the prior week’s build of 5.561M. Automotive fuel gasoline is the No. 1 U.S. fuel product.

With , there was a drop of  2.867M barrels versus the expected gain of 1.05M and the prior week’s rise of 3.931M. Distillates are refined into , diesel for trucks, buses, trains and ships and fuel for jets.

“We had runaway exports of crude versus lower imports last week, that’s basically what it came down to,” said John Kilduff, partner at New York energy hedge fund Again Capital and a regular commentator on the trends and statistics in oil. “Also, refiners seem to have started dialing back a little on runs with the end of the peak summer driving season.”

Exports of climbed to a whopping 5.067M barrels per day last week versus the prior week’s 3.09M. Imports averaged 6.5M daily last week, down 1.1M from the previous week.  Refineries ran at 91.9% of their operable capacity last week, against a previous rate of more than 93%.

The estimated production of crude oil for last week remained at a 3-year high of 12.9 million barrels, despite the EIA of late indicating declines in monthly output by U.S. oil drillers in its separately-published drilling productivity report.

Read the full article here

News Room September 20, 2023 September 20, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Donald Trump to leave G7 early after resisting joint statement on Israel-Iran conflict

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Israel-Iran tensions test central banks’ appetite for rate cuts

Stay informed with free updatesSimply sign up to the Central banks myFT…

🤏 Trump’s giving automakers “a little bit of a break” on tariffs.

Watch full video on YouTube

Why A 100% American-Made Car Isn’t Possible

Watch full video on YouTube

Trump to leave G7 early due to escalating Middle East conflict

US President Donald Trump has encouraged the immediate evacuation of Tehran, as…

- Advertisement -
Ad imageAd image

You Might Also Like

Commodities

Russia mulls extra tax for some commodities exports, including metals – sources

By News Room
Commodities

Gold prices tumble as Fed talks higher rates

By News Room
Commodities

Crude oil prices endure downturn amid U.S. interest rate hike anticipation

By News Room
Commodities

China approves export licences for chip materials gallium, germanium

By News Room
Commodities

European energy crisis: ECB, IEA and EIB to strategize on systematic transition amid soaring prices

By News Room
Commodities

Federal Reserve interest rate signals prompt oil price dip

By News Room
Commodities

Oil prices inch closer to $100 per barrel amid inflation concerns

By News Room
Commodities

Brent Crude Prices May Hit $120 per Barrel, Warns JPMorgan

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?