US crude inventories depleting rapidly

Despite the rapid depletion of US commercial crude stocks, crude futures remained range-bound on early Wednesday, at 74.9 $/b at the prompt. US crude inventories may have dipped by 8.1 mb, while US product inventories built at a more marginal pace. Globally, crude stocks dipped last week by a sizable amount, especially in the Middle East, according to Kpler. The OPEC+ technical committee meeting was delayed to Thursday, the day of the OPEC+ ministerial meeting, as some disagreements emerged within the OPEC+ group.  

us weekly stock change, mb
Share this news :

You might also read :

ES-oil
April 27, 2021

OPEC meeting rescheduled for today

ICE Brent prompt contract reached 66.1 $/b on early Tuesday, as the OPEC+ ministerial meeting was rescheduled for today while their technical meeting held on…
ES-power
February 17, 2021

EUAs retreated after failing to reach new record

The European power spot prices slightly decreased yesterday, weighed by forecasts of higher wind output and milder weather. Prices eroded 2.48€/MWh to reach 49.73€/MWh on…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]