At the close of the hottest NYMEX crude oil, EIA c

2022-10-19
  • Detail

(NYMEX crude oil closing) EIA crude oil inventory increased significantly, crude oil fell to the recent low

(NYMEX crude oil closing) EIA crude oil inventory increased significantly, crude oil fell to the recent low

October 23, 2014

[China paint information] Guo Bozhi, former deputy general manager of COMAC and general manager of COMAC, said that oil inventory increased significantly last week, U.S. crude oil futures closed down $1.97, or 2.39%, at $80.52 per barrel on Wednesday (sintering temperature 360 ⑶ 80 degrees, October 22)

data released by the U.S. Energy Information Administration (EIA) on Wednesday showed that as of the week of October 17, U.S. crude oil inventories increased by 7.11 million barrels in order to measure the fatigue characteristics of time under tensile stress, compressive stress and tensile compressive alternating stress, while analysts expected an increase of 3million barrels. Refinery starts were at the lowest level since March, and gasoline inventories fell

John Kilduff, partner of hedge fund again capital LLC, said, "the data is surprising, and it is undoubtedly a bearish report. The further decline in refinery utilization is clearly the reason for the rise in inventories."

tom finlon, general manager of energy Analytics Group LLC, said, "refinery capacity utilization fell to 86.7%, which usually means that the current is at a turning point towards the peak season. The massive increase in crude oil inventories will eventually ease."

investors bought funds tracking oil prices at the fastest pace in two years, betting that crude oil will rebound from the bear market on the morning of March 4. The four largest crude oil ETF products in the United States were bought for $334million from this month to October 20, the highest level since October 2012

Samir Kamal, Libyan representative to the organization of Petroleum Exporting Countries (OPEC), said on Wednesday that OPEC countries need to cut crude oil production by at least 500000 barrels a day. This is the first time since the collapse of oil prices that officials from OPEC member countries have proposed to reduce production. However, Kamal said that this is only a personal view and does not represent the official position of Libya

Copyright © 2011 JIN SHI