Crude oil futures settle the week at $63.89


Up marginally from last Friday’s settlement

The price of crude oil is settling the day/week at $63.89. This time last week, the price of the crude settled at $63.08 (see report from last week). 
The Baker Hughes report this week showed an increase in oil rigs of to act 833 from 831 last week.

Oil inventories were much higher than expected this week, but gasoline inventories were much lower. Below is the summary of the DOE inventory data released on Wednesday. 

  • Oil inventories, +7029K vs 2500K expected
  • Gasoline -7710K vs -2150K expected
  • Distillates -116K vs -1050K expected
  • Refinery utilization +1.10% vs +1.00% expected
  • Production 12.2mbpd vs 12.2mbpd prior


Products You May Like

Articles You May Like

Reminder: Friday is a holiday in much of the world
Gold Prices Down On Dollar Comeback
Daily Markets Broadcast 2019-04-17
The Upside of Bitcoin’s Upside (It’s Not What You Think)
If you think about trading USDCAD, take two aspirin and lie down until the feeling goes away.

Leave a Reply

Your email address will not be published. Required fields are marked *