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EIA Crude Oil Product inventories decreased by 1.178 million barrels month-on-month, a decrease lower than market expectations.
In the USA, commercial Crude Oil Product inventories excluding the Strategic Reserve decreased by 1.178 million barrels to 0.416 billion barrels, the lowest level since the week of September 20, 2024, with a decline of 0.28%.
Noon Crude Oil Analysis: USA crude oil inventories have declined for six consecutive weeks, can Brent Crude Oil prices reach new highs?
After the USA's Crude Oil Product inventories fell for the sixth consecutive week, Brent Crude Oil Futures traded in Asia's early session...
Attention Oil & Gas Industry! Biden is about to make a big move, and this time Trump might have no solution...
① The President of the USA, Biden, is said to be issuing an executive order to permanently ban new offshore Oil & Gas development in certain coastal waters of the USA to ensure these areas have eco-friendly protection for coastal regions. ② This order is based on a 72-year-old law that grants the White House broad discretion to permanently protect USA waters from the impacts of Oil & Gas leasing.
Oil Prices Inch Higher on China Stimulus Hopes; Set for 2nd Straight Weekly Gain
Before Trump took office, Biden would prohibit more offshore oil drilling.
According to informed sources, Biden will issue an executive order in a few days to prohibit the sale of new drilling rights in certain areas outside the continental shelf of the USA, but Trump is expected to order the repeal of these protective measures.
These ETF Strategies Were Big Winners Last Year. What to Expect in 2025.