EIA reports surprise build of crude oil inventories for last week

Here are the latest oil production numbers from the EIA. All data is in thousand barrels per day unless otherwise noted

Oil prices fell for a third day on Thursday, following a surprise increase in United States crude inventories that added to existing concern about the rapid rise in global crude supply. USA crude CLc1 rose $1.30, or 1.9 percent, to $68.96 a barrel.

Brent crude futures were last down 33 cents at $72.06 a barrel by 12:00pm GMT, while USA crude futures fell 55 cents to $67.11.

Oil prices fell about 2 percent on Wednesday as a surprise increase in US crude stockpiles fed concerns about global oversupply, while investors anxious that trade tensions could hit energy demand.

Gasoline stocks declined 2.5 million barrels, while crude stocks at the Cushing, Oklahoma, delivery hub for USA crude futures fell by 1.3 million barrels, EIA data showed.

Stocks at the key Cushing storage hub in Oklahoma fell by 1.3-million barrels, the lowest level since October 2014, according to data from the Energy Information Administration (EIA).

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She said she has experienced reporting she does not consider accurate but said she did not agree with the description. We do not have a border crisis; the zero-tolerance policy was created to punish migrants and to excite Trump's base.


Traders said prices rallied early when industry information provider Genscape reported that crude inventories at the Cushing, Oklahoma, delivery hub for USA crude, dropped 1.1 million barrels since Friday, July 27.

Oil prices were on the downward trajectory on Tuesday even though Chief Executive Officer, BP, Bob Dudley, said he saw a series of supply-side issues that would be supportive in the short-term, according UPN.

The West Texas Intermediate (WTI) for September delivery lost 0.47 US dollar to settle at 68.49 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery erased 0.24 dollar to close at 73.21 dollars a barrel on the London ICE Futures Exchange.

Opec and partners including Russian Federation had agreed in late 2016 to cut output by 1.8 million barrels per day to rebalance supply and demand.

"At the moment, there is a mismatch in timing, where there is increasing OPEC supply and yet we're not seeing a significant reduction in Iranian supply", Patterson said.

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But Prime Minister Benjamin Netanyahu, who pushed for the legislation, has repeatedly refused any suggestion to amend the law. The law focuses nearly exclusively on enshrining Israel as the nation-state of the Jewish people.


On Monday, August 6, the first set of USA sanctions on Iran will snap back, so we will be probably looking at tougher actions over August and September, Croft said.

China has said it plans to impose tariffs on liquefied natural gas, raising concerns that it could also impose tariffs on oil, said John Kilduff, partner at Again Capital Management in NY.

U.S. President Donald Trump's decision to pull out of an global nuclear deal and reimpose sanctions on Iran has angered Tehran.

Price differentials for the medium-sour Mars grade to Dubai quotes on arrival in North Asia have fallen to 50 cents to $1 a barrel, down from indications of $1-$1.50 at the start of July, partly as China avoided USA crude due to potential import tariffs. That's compared with a forecast for a 3-million-barrel decline in a Bloomberg survey of analysts.

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No one has gone back-to-back since the inception of the FedExCup in 2007, and he got off to a strong start in his title defense. "I play the golf course for what it has, and that's about as aggressive as I'll ever play this place", Woods said.


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