- India's crude oil imports in September hit a five-month high, government data showed on Wednesday, as a pick up in economic activity and mobility led to higher fuel demand. Crude oil imports in the world's third largest oil consumer and importer rose 16% to 17.61 million tonnes from a year earlier, according to data on the website of the Petroleum Planning and Analysis Cell.
Gasoline for prompt delivery on the U.S. Gulf Coast fell Wednesday, as the market focused on deliveries in December, a month when U.S. demand declines seasonally, traders said. U.S. Gulf Coast M4 conventional gasoline fell three quarters of a cent, trading 2.85 cents higher than the gasoline futures benchmark on the New York Mercantile Exchange, market participants said.
Oil prices slumped to their lowest in two weeks on Thursday after Iran said talks with world powers on its nuclear programme would resume by the end of November and U.S. crude inventories rose by much more than expected. Brent crude was 69 cents, or 0.8%, lower at $83.89 a barrel by 1325 GMT, having hit a two-week low of $82.32 earlier and fallen by 2.1% in the previous session.
Front Month ICE Brent Crude for Dec. delivery lost $1.82 per barrel, or 2.11% to $84.58 today. --Largest one day dollar decline since Wednesday, Aug. 4, 2021. --Largest one day percentage decline since Thursday, Aug. 19, 2021.
Front Month Nymex Crude for Dec. delivery lost $1.99 per barrel, or 2.35% to $82.66 today. --Largest one day dollar decline since Wednesday, Aug. 4, 2021. --Largest one day percentage decline since Thursday, Aug. 19, 2021.
Front Month Nymex Natural Gas for Nov. delivery gained 32.00 cents per million British thermal units, or 5.44% to$ 6.2020 per million British thermal units today. --Up five of the past seven sessions. --Today's settlement value is the second highest this year.
President Vladimir Putin on Wednesday told the head of Kremlin-controlled energy giant Gazprom, Alexei Miller, to start pumping natural gas into European gas storage once Russia finishes filling its own stocks, which may happen by Nov. 8. Gas markets in Asia and Europe have sky-rocketed this year, with benchmark Dutch gas hub spot prices jumping by 365% since the start of the year, fuelled by l...
U.S. crude-oil inventories rose more than expected last week, but gasoline and diesel fuel supplies declined, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices that were lower before the mixed-to-bearish report was released extended those declines afterward. The Nymex front-month crude contract for December delivery was recently 1.7% lower at $83.19 a barrel.
Fujairah Oil Industry Zone on Wednesday published the
following weekly inventory data for oil products for the week ended Oct. 25, according to
industry information service S&P Global Platts.
Crude oil tanks at the Cushing, Oklahoma storage and delivery hub for U.S. crude futures are more depleted than they have been in the last three years, and prices of further dated oil contracts suggest they will stay lower for months. U.S. demand for crude among refiners making gasoline and diesel has surged as the economy has recovered from the worst of the pandemic.
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