The European Central Bank eased the pace of its interest rate hikes on Thursday and kept its options open on future moves as it continues its fight sticky inflation.
The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove "transitory" and likely not require a fast rise in interest rates.
The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove "transitory" and likely not require a fast rise in interest rates.
By Reuters Staff
1 Min Read
General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, U.S., March 30, 2020. REUTERS/Mike Segar/File Photo
NEW YORK (Reuters) - U.S. weekly refinery utilization rates last week rose to 88.7%, the highest since February 2020, according to U.S. Energy Information Administration data released on Thursday.
Midwest weekly refinery utilization rates rose to 91.5%, also the highest since February 2020, the data showed.
Reporting by Devika Krishna Kumar in New York; Editing by Chizu Nomiyama
By Reuters Staff
3 Min Read
(Reuters) - U.S. cash crude differentials mostly weakened on Monday as the spread between benchmark U.S. crude futures and Brent contracted, dealers said.
FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S. February 11, 2019. REUTERS/Nick Oxford/File Photo
Coastal grades including Louisiana light Sweet (LLS) and Mars eased as the Brent/WTI spread narrowed by 7 cents a barrel. A narrow spread typically makes U.S.-crude linked coastal grades less attractive to international buyers compared to Brent-linked grades.
Among inland grades, WTI Midland eased by 5 cents on signs of increased production from the Permian basin.