Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.

JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.

wallstreetcnJul 8 14:24

Crude oil product analysis at noon: Brent crude oil futures prices fell, with limited impact from the storm.

Hurricane Beryl is expected to make landfall in Texas, but the projected path suggests it may not have a significant impact on the oil refining and export industry in the Corpus Christi area. Chevron has begun sending non-essential personnel back to offshore facilities.

Golden10 DataJul 8 13:17

The driving force behind oil prices? Tropical storms hit Texas and oil ports are closed.

Tropical storm 'Beryl' advances into Texas, and some of the largest oil export hubs in the United States are closed.

Golden10 DataJul 8 12:14

Market Chatter: Suncor Reduces Output From the 235,000 BPD Firebag Project Due to Wildfire Risk

Suncor Energy (SU.TO, SU) is curtailing some production at its Firebag thermal oil sands project in northern Alberta with the site under threat from an out of control wildfire, Canadian Press reported

MT NewswiresJul 6 00:23

Wildfire Risk Forces Suncor To Shut Down Firebag Oil Sands Site: Report

Suncor Energy Inc. (NYSE:SU) reportedly temporarily shut down its 215,000 barrel-per-day Firebag oil sands site in northern Alberta.The company also reduced some production as a precautionary measure

BenzingaJul 5 18:32

WTI Moves Below $83.50 Amid Expectations of Increased Supply, US NFP Awaited

West Texas Intermediate (WTI) Oil price trades around $83.50 per barrel at the time of writing.

FXStreetJul 5 17:12