Fujairah Oil Industry Zone on Wednesday published the
following weekly inventory data for oil products for the week ended July 26, according to
industry information service S&P Global Platts.
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 10 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.2 million barrels in the week ended July 23, with forecasts ranging from a decline of 4.8 million barrels to an increase of 1 million barrels.
A trade group representing major U.S. passenger and cargo airlines and others on Tuesday asked the Federal Energy Regulatory Commission to take emergency action to address fuel shortages at Reno-Tahoe Airport in Nevada through August.
Front Month ICE Brent Crude for Sept. delivery lost two cents per barrel, or 0.03% to $74.48 today. --Largest one day dollar and percentage decline since Monday, July 19, 2021. --Snaps a five session winning streak.
Front Month Nymex Crude for Sept. delivery lost 26 cents per barrel, or 0.36% to $71.65 today. --Largest one day dollar and percentage decline since Monday, July 19, 2021. --Down for two consecutive sessions.
Front Month Nymex Natural Gas for Aug. delivery lost 13.10 cents per million British thermal units, or 3.19% to$ 3.9710 per million British thermal units today. --Largest one day dollar decline since Thursday, Feb. 18, 2021. --Largest one day percentage decline since Tuesday, June 15, 2021.
A trade group representing major U.S. passenger and cargo airlines and others on Tuesday asked the Federal Energy Regulatory Commission to take emergency action to address fuel shortages at Reno-Tahoe Airport in Nevada through August.
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 10 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.2 million barrels in the week ended July 23, with forecasts ranging from a decline of 4.8 million barrels to an increase of 1 million barrels.
Russia said on Tuesday it had fully restored train travel over a Trans-Siberian railway bridge in its far east that was damaged last week by floods. The world's longest railway is a strategic transport artery for Russia's economy, shuttling not just passengers but also commodities like oil, timber and coal between Europe and Asia.
Portfolio managers sold petroleum last week at one of the fastest rates for a decade, after an upsurge in coronavirus cases and an OPEC+ agreement to boost output caused them to reassess the likelihood of further price increases.
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