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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.
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.
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.
Express News | Exxon Mobil: is making operational adjustments in response to Hurricane Barry and expects minimal impact on oil & gas production.
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By Janet H. Cho Tropical Storm Beryl is swirling toward the Texas coastline, most of which is under a hurricane warning as officials urged residents and tourists to evacuate coastal areas. Beryl is
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