News Oil 

Oil prices hold gains as EIA reports a 6.9 million-barrel weekly fall in U.S. crude supplies

“The EIA data showed weekly supply decline of 700,000 barrels for gasoline, while distillate stockpiles climbed by 2.7 million barrels” writes Markets Commodities Reporter for marketwatch.com. The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 6.9 million barrels for the week ended Sept. 6.On average, analysts polled by S&P Global Platts forecast a fall of 3.6 million barrels, while the American Petroleum Institute on Tuesday reported a drop of 7.2 million barrels, according to sources.The S&P Global Platts survey had forecast an inventory loss of 1.4…

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News Oil Stocks 

Oil prices rise after data shows big drop in US inventories

“Meanwhile gasoline stocks fell by 4.5 million barrels, compared with analysts’ expectations of a 847,000-barrel decline in a Reuters poll” reports cnbc.com. But they rebounded after American Petroleum Institute (API) data released late on Tuesday showed U.S. crude and gasoline stocks fell last week, while distillate stocks built.The API numbers showed crude inventories fell by 7.2 million barrels in the week ended Sept. 6 to 421.9 million, compared with analysts’ expectations of a decrease of 2.7 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.4 million barrels,…

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GBP News 

Stockpiles of tomatoes? UK retailers bristle at demands of no-deal Brexit

“That marks a major challenge for a food industry which relies heavily on imports from Europe during the autumn when warmer climes are needed to grow some fruit and vegetables” writes Midwest Communications Inc for 95kqds.com. “We have a highly-resilient food supply chain and consumers in the UK have access to a range of sources of food.”The fundamental question is, whose job is it to provide food for the UK in the case of a blockade?” he said, speaking on condition of anonymity. Source: 95kqds.com

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News Oil Stocks 

Oil prices slip after surprise build in US inventories

“BP Plc’s Chief Financial Officer Brian Gilvary told Reuters that global oil demand is expected to grow by less than 1 million barrels per day in 2019 as consumption slows” reports cnbc.com. U.S. crude stocks rose last week, while gasoline inventories decreased and distillate stocks drew, data from industry group the American Petroleum Institute (API) showed on Wednesday.Brent crude was down 18 cents, or 0.3%, at $60.52 a barrel by 0040 GMT. On Wednesday, Brent rose 4.2 percent. Source: cnbc.com

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News Oil 

Oil prices hold gains after EIA reports a bigger-than-expected rise in U.S. crude supplies

“The Energy Information Administration reported Wednesday that domestic crude supplies rose by 3.6 million barrels for the week ended Feb. 8” writes Markets Commodities Reporter for marketwatch.com. March West Texas Intermediate crude CLH9, +1.96% was up $1.26, or 2.4%, at $54.36 a barrel on the New York Mercantile Exchange.Gasoline stockpiles edged up by 400,000 barrels last week, while distillate stockpiles were up 1.2 million barrels, according to the EIA. The S&P Global Platts survey had shown expectations for a supply rise of 800,000 barrels for gasoline, but distillates were expected…

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News Oil 

Oil prices ease on signs of U.S. supply build and a firmer buck

“U.S. benchmark West Texas Intermediate crude oil for March delivery US:CLG9 fell 9 cents, or 0.2%, at $53.57 a barrel” writes Rachel Koning Beals for marketwatch.com. Oil futures slipped Wednesday as industry data pointed at rising U.S. oil stockpiles and on the back of a stronger U.S. dollar, which tends to dent commodities priced in the currency.Front-month contract prices marked their lowest settlement on Tuesday — at $53.66 a barrel — since Jan. 29, according to FactSet data.The American Petroleum Institute, an industry group, released weekly inventory data late Tuesday…

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GBP News 

A matter of life and death? UK stockpiles drugs as no-deal Brexit feared

“For Nora, “this could be matter of life and death,” Elgarf told Reuters at her home in southwest London” writes Midwest Communications Inc for 95kqds.com. If everyone does what they are supposed to, we are confident the supply of medicines will continue uninterrupted whatever the Brexit outcome.”. Elgarf wants to stock up on the drugs in case supplies are hit but she can’t because they are only available on a monthly prescription.”Hospitals, pharmacies, (family doctor) surgeries and patients should not stockpile medicines at any point during this process,” health minister…

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News Oil 

U.S. crude stockpiles at a 2-month high, but prices stable due to concerns tied to Venezuela

“From Rachel Koning Beals : Crude prices ticked higher Friday, after flipping between losses and gains, as supply concerns tied to Venezuela outweighed a report showing a two-month high in U.S. crude stockpiles” reports etfdailynews.com. Meanwhile, the Energy Information Administration reported Thursday that domestic crude supplies climbed by 8 million barrels for the week ended Jan. 18, a two-month high.The U.S. imported about 17.7 million barrels of crude oil and petroleum products from Venezuela in October 2018, according to the Energy Information Administration.With the build, U.S. crude stockpiles are now about 8% above…

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News Oil Stocks 

Oil benchmarks split paths as traders eye U.S. stockpile surge, political crisis in Venezuela

“On Thursday, the Energy Information Administration reported that domestic crude supplies climbed by 8 million barrels for the week ended Jan. 18” writes Markets Commodities Reporter for marketwatch.com. The U.S. also threatened to impose sanctions on Venezuela’s oil industry that could further hobble the country’s exports.President Donald Trump Wednesday officially recognized opposition leader Juan Guaido as interim president of oil-rich Venezuela, and declared sitting president Nicolás Maduro as illegitimate. Source: marketwatch.com

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News Oil 

EIA reports little change to U.S. crude supply for a second week in a row

“The Energy Information Administration reported Friday that domestic crude supplies barely budged for the week ended Dec. 28, adding just 7,000 barrels to stand at 441.4 million barrels” writes Markets Commodities Reporter for marketwatch.com. Gasoline stockpiles, however, climbed by 6.9 million barrels last week, while distillate stockpiles rose 9.5 million barrels, according to the EIA. The S&P Global Platts survey had shown expectations for supply increases of 1.6 million barrels each for gasoline and distillate inventories.Analysts polled by S&P Global Platts expected the EIA, which delayed the release of its…

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