Crude oil inventories in the United States decreased by 7.2 million barrels during the week ending June 5, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday The decrease brings commercial stockpiles to 426.5 million ba
OPEC production fell by 1.06 million barrels per day in May to 16.13 million bpd, the lowest in over two decades due to U.S. sanctions on Iran. OPEC’s oil output in May declined to its lowest level since at least 2000, driven by a U.S. naval blockade on Iran and disruption
Crude stocks fell by 7.2M barrels The US crude inventory decreased by 7.2M barrels for the week ended June 5. The current commercial crude stocks stand at 426.5M barrels. This decline compares to a drop of 8M barrels in the previous week and a consensus est
Prior was -7974K Gasoline K vs -471K expected Distillates K vs -488K expected API data from late yesterday: Crude -9120K Gasoline -1190K Distillates +1320K That API crude number was an eye-opener and it's part of why WTI is bid today, up $1.59 to $89.81. Back-to-back draws
Renewable identification numbers jump nearly 100% year-to-date as higher blending targets lift compliance credit values. Renewable identification numbers (RINs) have nearly doubled in value since January, driven by increased U.S. biofuel blending requirements. The rise ref
Given the escalating tensions in the Middle East—including reports of an Iranian drone attack on an Apache helicopter and a subsequent U.S. retaliatory strike—one might have expected crude oil prices to surge. Instead, WTI crude is only modestly higher, up about $1.23 at $
The Consumer Price Index rose 4.2% over the 12 months ending in May, the Bureau of Labor Statistics reported Wednesday, the highest annual rate since April 2023 and up from 3.8% in April. Month over month, the all-items index gained 0.5% on a seasonally adjusted basis, wit
Snap-on, a manufacturer and marketer of tools, equipment, diagnostics, repair information, and systems solutions for automotive aftermarket applications has announced that it acquired Diesel Laptops, LLC for approximately $100 million in cash. Based in Irmo, South Carolina
Investors react to fresh military strikes between Iran and the U.S., pushing equities lower and oil prices higher ahead of key U.S. inflation data. Global equities retreated and oil prices rose after Iran and the U.S. exchanged new military strikes, heightening geopolitica
TD Securities’ Robert Both updates Canada’s macro outlook as higher Oil prices push WTI above $95 through Q4, lifting headline CPI to an average 2.9% over Q2/Q3. Despite a weaker 2026 GDP growth path and a delayed output gap closure to 2028, the Bank of Canada is still exp
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