oilprice.com/Energy/Crude-Oil/Oil-Inches-Higher-After-EIA-Reports-Large-Crude-Inventory-Build.html
Crude oil prices fell by 5.5 million barrels in the week to August 5. That's down from 9.3 million barrels a week earlier. Inventories increased by 1.2 million barrels, up from 1.1 million barrels the week before. The rise in inventories was due to the increase in crude oil prices.

Middle distillate production averaged 5.1 million bpd last week. This compared with a draw of 2.4 million barrels for the previous week. Inventories have fallen to dangerously low levels and from this moment on, Reuters’ John Kemp wrote last week, “either an imminent recession reduces consumption or prices are likely to surge higher.”

U.S. manufacturing activity may be set for a decline in the second half of this year. Refineries continued to operate at high run rates, the average standing at 94.3 percent of capacity. EIA data cited by Kemp, distillate fuels have declined in 66 of the last 109 weeks.

The Oil Price Collapse Conspiracy. A Worrying Signal From Oil Traders Of A European Recession. China And Saudi Arabia Intensify Energy Cooperation With Critical Deal. China and Saudi Arabia intensify energy cooperation with critical deal. The oil price Collapse conspiracy. A worrying signal from oil Traders of a European recession.
Posted by RU rumbleshark
Tap to Copy the Short Url to This Post:
bto.sh/8i9gvzv5 
One-Stop Business News backed by Mark Cuban. Free to Use →