Total US crude stocks — including stocks at the NYMEX crude delivery point of Cushing, Oklahoma — climbed last week, as refiners continued to cut runs. Refiners tend to reduce runs this time of year as they undergo maintenance, pulling down demand for crude. As a result of the lower runs, inventories for both distillate and gasoline fell last week. You can read our analysis of the numbers here.
Posts Tagged ‘NYMEX’
By News Desk | October 17, 2013 07:31 PM Comments (0)
By Alison Ciaccio | September 11, 2013 11:01 AM Comments (0)
US gasoline prices soared at the end of August, pushing to well over $3.10/gal in the futures market and more than $3.64/gal at the pump, as the US appeared poised to strike Syria. But a bid by Russian President Vladimir Putin to take custody of embattled Syrian President Bashar Assad’s chemical weapons has taken the heat off of oil futures as well as prices at the pump.
The intensity surrounding Syria and implications that a military strike could spill over to other, larger oil-producing countries, added a premium of risk to oil prices, which also translated to higher retail gasoline prices.
By News Desk | July 17, 2013 03:35 PM Comments (0)
US crude inventories fell 7 million barrels last week, as an increase in refinery runs trumped a rise in crude imports, data released by the US Energy Information Administration showed. US crude stocks have fallen roughly 27 million barrels over the past 3 weeks, although NYMEX crude futures were only slightly bullish Wednesday. Bearish for NYMEX RBOB futures, however, was a 3.06 million barrel build in US gasoline stocks. You can see Platts’ analysis of the numbers here.
By News Desk | July 10, 2013 03:53 PM Comments (0)
US crude stocks fell 9.87 million barrels last week to 373.92 million barrels, the second large draw in two weeks, data released by the US Energy Information Administration showed Wednesday. Especially bullish for NYMEX crude futures was a draw at the Cushing, Oklahoma, delivery point of 2.69 million barrels. NYMEX crude futures rallied $2.99/barrel on the data, settling at $106.52/b. You can see Platts’ analysis of the numbers here.
By John Kingston | July 8, 2013 03:30 AM Comments (0)
What if WTI is now a broken benchmark because it’s too high relative to the rest of the world?
What is striking about the widely discussed “rise in oil prices” recently has been the fact that over the last few months, it’s essentially been a rise in one oil price: the one that trades in Cushing. It’s the one that not long ago was lagging the rest of the global oil complex by so much that companies, including airlines, abandoned it as a benchmark.
By News Desk | July 3, 2013 04:17 PM Comments (0)
US refiners increased crude runs last week, while crude imports tumbled, leading to a 10.35 million barrel draw in inventories, US Energy Information Administration data showed Wednesday. The stock draw was supportive for NYMEX crude futures, while refined product inventories also fell, supporting RBOB and ULSD futures. You can see Platts’ analysis of the numbers here.
By News Desk | June 24, 2013 12:01 AM Comments (0)
As The Barrel blog discussed last week, the mix of crudes in the US is changing, and there’s a lot of blending going on. That is creating some problems for the world’s busiest oil contract, the light sweet crude AKA WTI contract at the NYMEX. Bridget Hunsucker, in this week’s New Frontiers column in Oilgram News, discusses the issue.
By News Desk | June 19, 2013 02:24 PM Comments (0)
Crude stocks at the NYMEX delivery point of Cushing, Oklahoma are at their lowest level of the year. That number is significant because it can have — and usually does — a big impact on spreads between WTI-priced crudes and those tied to the global Brent benchmark. You can see Platts’ analysis of the numbers here.
By News Desk | May 30, 2013 05:44 PM Comments (0)
US crude inventories climbed 3 million barrels last week to a record high 397.552 million barrels, as refiners cut inputs while production continued to edge higher, data released by the US Energy Information Administration showed Thursday. But a US gasoline stock decline was considered bullish for NYMEX RBOB futures, especially an 841,000 barrel drop to 62.74 million barrels in stocks on the US Atlantic Coast, home of the New York delivery point for the RBOB contract. You can read Platts’ analysis here.
By News Desk | April 10, 2013 03:31 PM Comments (0)
US gasoline inventories climbed an unexpected 1.7 million barrels last week, as refiners continued to increase runs, and imports climbed. A 1.541 million barrel stock build on the US Atlantic Coast was considered bearish for the New York-delivered NYMEX RBOB contract. You can see Platts analysis here.