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WTI Dips After Smaller Crude Draw; Pump-Prices Set To Soar As Gasoline Stocks Plunge | ZeroHedge

Post author:bitcointalk
Post published:13.03.2024
Post category:ENERGY
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Oil prices surged higher this morning after a Ukrainian drone struck one of Russia’s biggest refineries and API's report overnight signaling shrinking US crude stockpiles.

API

Crude -5.52mm (+400k exp)
Cushing -998k
Gasoline -3.75mm
Distillates -1.16mm

DOE

Crude -1.54mm (+400k exp)
Cushing -220k
Gasoline -5.66mm – biggest draw since Nov
Distillates +888k

The official data showed a smaller (more…)

WTI Turns Green After API Reports Across-The-Board Inventory Draws | ZeroHedge

Post author:bitcointalk
Post published:12.03.2024
Post category:ENERGY
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Oil prices slipped lower today after uglier than expected inflation sent yields higher (whipsawed wider markets) and perhaps more notably, OPEC said its latest supply cuts had stalled as Iraq and Libya producing more than their quota.

Slightly higher-than-expected CPI numbers are not likely to “rock the boat,” said Ole Hansen, a commodity strategist at Saxo Bank A/S, “overall a report that is unlikely to impact the thinking.”

Analysts expected a seventh straight weekly build in (more…)

The Most-Used Energy Sources In Europe | ZeroHedge

Post author:bitcointalk
Post published:08.03.2024
Post category:ENERGY
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Much of Europe has set itself the goal of switching away from heavily polluting fossil fuels and towards renewable energy sources.

In the chart below, Statista's Anna Fleck shows a snapshot of the energy landscape in Europe right now, using data from the Statistical Review of World Energy 2023. It reveals that while there’s some variation in energy types across the bloc, fossil fuels still make up the lion’s share of the energy sources the continent is most reliant on. (more…)