The first draw to commercial crude stocks in four weeks and the largest draw to commercial crude stocks this year was reported by the EIA on Wednesday. Despite commercial crude stocks still registering 65 million bbls above year-ago levels, prompt month WTI is now on track to close higher on the week.
The EIA’s weekly U.S. crude production estimate rose 500,000 bpd in this week’s report, registering at 11 million bpd. Much of the rise in the EIA’s production estimate this week reflects the return of offshore production following shut-ins during the prior week amid Tropical Storm Cristobal.
If your livelihood depends on buying or selling fuel, then you know how volatile the market can be. And you understand that access to timely information is crucial for your success. Robust rack pricing data is critical to help you stay on top of price changes and maximizing your profit margin.
Lamb Fuels is credited with pioneering the fuel recovery market in the United States and Canada. It operates in 45 U.S. states, as well as the Canadian provinces of British Columbia and Alberta.
Our expert weighs in on why gasoline, diesel, and jet fuel are set to establish their own recovery paths.
Commercial crude stocks rising for the third consecutive week to new record highs in the week ending June 12 continues to highlight an oversupplied crude market suffering from depressed demand.
Learn the impact that estimated temperature instead of actual temperature makes on your bottom line.
Last Friday, we pointed out that the weekly EIA data was far from bullish despite the attention given to the reported draw to commercial crude stocks.
Fuel volume changes due to thermal expansion. See what that means for your bottom line in our infographic.
In early April we called for China to remain the most resilient importer and source of oil demand in the world amid the recent plunge in global crude prices.