The weakness followed a US Energy Information Administration (EIA) weekly report, which showed a massive build in US inventory levels. Meanwhile, US oil and oil product stocks have increased , with crude stockpiles rising to 4.9 million barrels, gasoline to 2.1 million barrels and distillates to 1 million barrels.
US crude inventories rose 2 percent last week, or 10.4 million barrels, to a fresh record of 517.98 million barrels last week. With evidence that USA onshore production is falling, plus signs of increased cooperation among major OPEC and non-OPEC producers to work toward stabilizing prices via a freeze (and possibly an output cut down the line - once an adequate assessment of the amount of Iranian crude coming into the market is made), a supply response to the global oil glut looks feasible.
Oklahoma City Police Capt. Paco Balderrama says it's too early to tell whether the crash was intentional. Following the announcement of his death, Oklahoma City Mayor Mick Cornett released a statement about McClendon's contribution to the state.
The indictment followed a four year JOD investigation. Industry executives and state officials remembered McClendon as a "visionary" who ushered in a new era of U.S.
Jonathan Perok said. On June 19, 2015, Guindon graduated from the Prince William Police Criminal Justice Academy, but she later resigned for personal reasons before completing the Field Training Program. 96 Normal 0 false false false EN-US JA ...
Meanwhile, Brent's premium to the West Texas Intermediate crude contract stood at $2.74 a barrel, compared to a gap of $2.41 by close of trade on Tuesday. "Inventories are still insane high". The world is still awash in oil . Sky-high inventories are raising concerns that certain storage facilities will soon run out of room to keep all that crude.