Prices Rise as Crude Inventories Fall

This morning oil prices rose as crude inventory levels in the U.S. fell once again. The EIA reported a 3.2 million barrel (MMbbl)  draw, double the expected 3.2 MMbbl draw. Gasoline inventories were also expected to take a hit, but surprised with a 0.7 MMbbl gain. Diesel also surprised, but with a steep 2.7 MMbbl […]

Oil Prices Fall as Chinese Factories Slow Activity

This morning oil prices fell after concerns about Chinese factory activity made headlines. This problem over China and their oil-consumption decrease is accompanied by a sharp increase in Delta Variant cases worldwide. Crude oil opened the day at $73.91, diesel at $2.1910, and gasoline at $2.3303. Being the world’s second largest oil consumer, China is […]

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