U.S. oil demand remains firm, with products supplied averaging 20.6M bpd over the past four weeks, up 0.5% YoY. Meanwhile, crude inventories rose 3M barrels to 426.4M as gasoline and distillate stocks declined. #Oil#EIA#Energy#CrudeOil
U.S. crude inventories rose 1.79M barrels last week, API estimates, following a 7.14M-barrel build the week before. Gasoline and distillates both fell about 2.16M barrels as product supplies remain tight. #Oil#CrudeOil#EIA#Energy
Saudi Arabia's East-West pipeline outage threatens 3.5-4M bpd of crude exports, while Yanbu inventories have fallen below 15M barrels. European refiners are already seeking replacement supplies as Saudi cargoes slip. #Oil#Europe#SaudiArabia#CrudeOil
U.S. crude inventories fell 600,000 barrels last week to 423.4M barrels, EIA data showed, while gasoline stocks rose 800,000 barrels and distillates gained 1.6M. Distillate inventories remain 13% below the five-year average. #Oil#EIA#CrudeOil
China’s yuan-denominated crude futures hit a record 929.4 yuan, or $138.50 a barrel, as Middle East supply risks and stronger Chinese refinery buying lift prices. The contract has traded since 2018. #China#Oil#CrudeOil#Energy
