Fujairah Oil Industry Zone on Wednesday published the
following weekly inventory data for oil products for the week ended Sept. 13, according to
industry information service S&P Global Platts.
Oil prices rose over $2 a barrel on Wednesday after government data showed a larger-than-expected drawdown in U.S. crude inventories, and on expectations demand will rise as vaccination roll-outs widen.
Front Month ICE Brent Crude for Nov. delivery gained nine cents per barrel, or 0.12% to $73.60 today. --Up for three consecutive sessions. --Up $2.15 or 3.01% over the last three sessions.
Front Month Nymex Crude for Oct. delivery gained one cent per barrel, or 0.01% to $70.46 today. --Up for three consecutive sessions. --Up $2.32 or 3.40% over the last three sessions.
Front Month Nymex Natural Gas for Oct. delivery gained 2.90 cents per million British thermal units, or 0.55% to$ 5.2600 per million British thermal units today. --Up for two consecutive sessions. --Up 32.20 cents or 6.52% over the last two sessions.
U.S. crude-oil stockpiles are expected to decrease from the previous week in data due Wednesday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal. Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.5 million barrels in the week ended Sept. 10, with nine analysts forecasting a decline and two expecting an increase.
Colonial Pipeline, the United States' largest fuel pipeline, on Tuesday said it had resumed operations on its main gasoline Line 1, while distillate Line 2 remained down due to a power outage in the Houston area after Hurricane Nicholas made landfall. Meanwhile, Colonial's multiproduct Lines 3 and 4 continued to operate normally, the company said in a notice to shippers.
Colonial Pipeline, the nation's largest fuel line, said it shut its main gasoline and distillate lines early on Tuesday morning due to a power outage in the Houston after storm Nicholas made landfall. But pipelines 3 and 4 continue to operate normally, the company said in a notice to shippers.
- Oil prices ended largely unchanged on Tuesday as tropical storm Nicholas brought heavy rain and power outages in Texas but caused less damage to U.S. energy infrastructure than Hurricane Ida caused earlier this month.
Front Month ICE Brent Crude for Nov. delivery gained 59 cents per barrel, or 0.81% to $73.51 today. --Up for two consecutive sessions. --Up $2.06 or 2.88% over the last two sessions.
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