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All eyes are on the upcoming OPEC+ meeting Dec. 1-2 following the announcement of the US SPR release as well as the risks brought about by the omicron variant of COVID-19. Germany’s coal phase-out law review and the world’s largest rice exporters are also in focus. 1. With a coordinated SPR release on the horizon ...
US crude oil inventories moved higher in the week ended Nov. 19 as a sharp decline in exports offset rising refinery demand, US Energy Information Administration data showed Nov. 24. Total commercial crude stocks climbed 1.02 million barrels to 434.02 million barrels in the week to Nov. 19, EIA said, leaving stockpiles around 7.2% behind ...
US natural gas production surged to more than 95 Bcf/d Nov. 24, hitting a nearly two-year high that comes as domestic operators stage a prewinter push that has recently begun to cool the bullish sentiment in the forward gas market. The new high caps an almost eight-week drive by producers to lift output from stubbornly ...
US refinery margins softened for the week ended Nov. 19, despite a fall-off in crude prices, partly on lower demand for gasoline due the increase in coronavirus cases and high prices, an analysis from S&P Global Platts showed Nov. 23. US gasoline demand for the week ended Nov. 12 dipped 18,000 b/d to 9.241 million ...
Winter forward basis at Waha is down sharply since the start of November amid a recent acceleration in Permian Basin production and drilling activity that comes just as the outlook for US seasonal heating demand begins to cool. In recent trading, the shifting supply and demand considerations have prompted a stunning selloff along Waha’s forward ...