Sunday, September 22, 2019

Heating Oil News

Oil Soars 10%

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Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper shipments from the world's largest crude exporter.Prices initially surged more than 20% after the open on Sunday evening, with Brent crude posting its biggest intraday gain since the 1990-1991 Gulf crisis, before pulling back as various nations have said they would tap emergency supplies to keep the world supplied with oil.Brent crude futures rose as much as 19.5% to $71.95 per barrel…

U.S. Crude Stockpiles Unexpectedly Rise - EIA

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U.S. crude stocks rose last week, while gasoline and distillate inventories also rose, the Energy Information Administration said on Wednesday.Crude inventories rose by 2.4 million barrels in the last week, compared with analysts' expectations for a decrease of 2.8 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.50 million barrels, EIA said.Refinery crude runs rose by 786,000 barrels per day, EIA data showed. Refinery utilization rates rose by 3.4 percentage points.Gasoline stocks rose by 4.4 million barrels…

U.S. Crude Stocks Rise Unexpectedly - EIA

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U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information Administration said on Wednesday.Crude inventories rose 4.7 million barrels in the week ended May 17, compared with analysts' expectations for a decrease of 599,000 barrels. That boosted overall crude inventories, not including the U.S. government's Strategic Petroleum Reserve…

U.S. Crude Stocks Fall as Imports Fall

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U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said on Wednesday, and strong gasoline demand could point to additional drawdowns in coming weeks as driving season approaches.Crude inventories fell by 4 million barrels in the week to May 3, compared with analysts' expectations for an increase of 1.2 million barrels.Net U.S. crude imports fell 432,000 barrels per day to 4.4 million bpd, and crude production edged down 100…

Oil Prices Rise on Lower U.S. Stocks, OPEC+ Supply Cuts

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Oil prices rose slightly on Thursday, boosted by a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran.Brent crude futures were at $71.80 a barrel at 1313 GMT, up 18 cents from their last close and near Wednesday's five-month high of $72.27 a barrel.U.S. West Texas Intermediate (WTI) crude futures were at $63.83 per barrel, up 7 cents.Both contracts traded slightly lower earlier in the day.U.S. crude inventories fell by 1.4 million barrels in the week to April 12, U.S.

U.S. Crude Stocks Rise by 7.2 mln barrels - EIA

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U.S. crude stocks rose unexpectedly last week as imports climbed, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 7.2 million barrels in the last week, compared with analysts' expectations for an decrease of 425,000 barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 201,000 barrels, EIA said.Refinery crude runs rose by 18,000 barrels per day, EIA data showed.

U.S. Crude Stockpiles Fall Unexpectedly -EIA

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U.S. crude oil stocks fell unexpectedly last week as net imports fell to record lows, despite production growing to all-time highs and abundant inventories at the Cushing, Oklahoma hub, the Energy Information Administration said on Wednesday.After five consecutive weekly builds, nationwide crude inventories fell 8.6 million barrels in the week to Feb. 22, compared with analysts' expectations for an increase of 2.8 million barrels.However, crude stocks at Cushing, the delivery hub for U.S.

U.S. Crude Stockpiles Fall More Than Expected - EIA

U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecasts, the Energy Information Administration said on Wednesday.Crude inventories fell by 2.7 million barrels in week to Jan. 11, compared with analysts' expectations for a decrease of 1.3 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 743,000 barrels, EIA said.Refinery crude runs fell by 343,000 barrels per day, EIA data showed.

U.S. Crude Stocks Fall in Latest Week -EIA

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U.S. crude stocks fell last week, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration (EIA) said on Wednesday.Crude inventories fell by 497,000 barrels in the week to Dec. 14, a much smaller draw than the decrease of 2.4 million barrels that analysts had expected. The decline was the third consecutive decrease.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.09 million barrels, EIA said.Crude stockpiles in the Midwest rose to the highest since early January.U.S.

U.S. Crude Oil Stockpiles Dip, Gasoline Builds - EIA

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U.S. crude oil stockpiles last week fell less than expected, while gasoline inventories increased and distillates stocks fell, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.2 million barrels in the week to Dec. 7, compared with analysts' expectations for a decrease of 3 million barrels.The crude drawdown was also short of an over 10 million-barrel decline reported late Tuesday by industry group The American Petroleum Institute."The…

U.S. Crude Stockpiles Build for 10th Straight Week - EIA

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U.S. crude oil stockpiles rose for a 10th week in a row last week even as refineries boosted output and exports increased, the Energy Information Administration said on Wednesday.Crude inventories rose 3.6 million barrels in the week to Nov. 23, compared with analysts' expectations for an increase of 769,000 barrels.After falling to two-and-a-half-year lows in September, crude stocks have risen 14 percent with 10 straight weeks of increases. That is the longest run of builds since autumn 2015…

U.S. Crude Stockpiles Rise More than Forecast - EIA

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U.S. crude oil stockpiles rose more than expected last week, building for the ninth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose 4.9 million barrels in the week to Nov. 16, compared with analysts' expectations for an increase of 2.9 million barrels. Total inventories were 446.91 million barrels, the highest level since Dec. 2017.The last time crude stocks grew for nine straight weeks was between Jan.

U.S. Crude Stocks Jump 10.3 mln arrels Last Week - EIA

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U.S. crude stocks rose last week as imports climbed, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Thursday.Crude inventories rose by 10.3 million barrels in the last week, compared with analysts' expectations for an increase of 3.2 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.17 million barrels, EIA said.Refinery crude runs rose by 24,000 barrels per day, EIA data showed.

U.S. Crude Stocks Rise by 3.2 mln bbls Last Week - EIA

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U.S. crude stocks rose last week, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 3.2 million barrels in the last week, compared with analysts' expectations for an increase of 4.1 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.9 million barrels, EIA said.Refinery crude runs rose by 149,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.2 percentage points.Gasoline stocks fell by 3.2 million barrels…

Maritime Rule Change Stirs Fears of Diesel Shortage: Kemp

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The International Maritime Organization (IMO) has so far resisted pressure to soften or postpone the implementation of new regulations requiring ships to use bunker fuels with a lower sulphur content from the start of 2020.That has prompted warnings from some analysts that the regulations will squeeze the availability of low-sulphur diesel and jet kerosene required by trucks, trains, aircraft, farmers and industry, resulting in big price increases.The regulations and any associated rise in fuel prices will occur in the run up to the next U.S.

Oil Rises as Fuel Drawdown Sparks Rebound

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Saudi assurance on oil supplies, economic worries weigh as two China state refiners to skip Iran oil bookings for November. Oil prices jumped on Wednesday, rebounding after several days of weakness as a much bigger-than-expected drawdown in U.S. gasoline and diesel inventories augured for a coming seasonal increase in refining demand.Looming U.S. sanctions on oil exporter Iran helped support prices, but traders remained concerned about the worldwide energy demand outlook. On Tuesday, oil prices slumped 5 percent on concerns tied to a weaker economic outlook.U.S.

U.S. Crude Stocks Rise, Gasoline, Diesel Stocks Down - EIA

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U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 6.3 million barrels in the week to Oct. 19, compared with analyst expectations for an increase of 3.7 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.4 million barrels, EIA said.Refinery crude runs fell by 48,000 barrels per day, EIA data showed.

U.S. Crude Stocks Up by 6.5 mln barrels - EIA

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U.S. crude stocks rose last week, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 6.5 million barrels in the week to Oct. 12, compared with analysts' expectations for an increase of 2.2 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said.Refinery crude runs rose by 77,000 barrels per day, EIA data showed. Refinery utilization rates remained unchanged.Gasoline stocks fell by 2 million barrels…

U.S. Crude Stocks Up by 6 mln Barrels - EIA

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U.S. crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Thursday.Crude inventories rose by 6 million barrels in the week to October 5, compared with analysts' expectations for an increase of 2.6 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.4 million barrels, EIA said.Refinery crude runs fell by 352,000 barrels per day, EIA data showed.

U.S. Crude Stocks Rise by 8 mln Barrels

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U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 8 million barrels in the week to Sept. 28, compared with analysts' expectations for an increase of 2 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.7 million barrels, EIA said.Refinery crude runs rose by 77,000 barrels per day, EIA data showed.