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Express News | U.S. Energy Corp. Announces Recent Acquisition Targeting Industrial Gas Production, Approximately 24,000 Net Acres Strategically Positioned Across The Core Of The Kevin Dome
Crude Oil in the USA fell by 1.3% on Wednesday.
In the early morning of the 8th, Peking time, the price of US WTI Crude Oil futures fell on Wednesday. Rising US fuel inventories and a stronger dollar caused oil prices to give back earlier gains made due to concerns over tight supply. The futures price of West Texas Intermediate (WTI) crude oil for February delivery on the New York Commodity Exchange fell by 93 cents, a drop of 1.25%, closing at $73.32 per barrel. The data released by the US Energy Information Administration (EIA) on Wednesday showed that US fuel inventories surged last week, while crude oil inventories dropped due to refinery activity.
EIA: Last week, USA's Crude Oil Product inventory decreased by 0.959 million barrels, with a median estimate of a decrease of 2 million barrels.
The US Energy Information Administration (EIA) inventory report also showed the following changes last week. RBOB Gasoline inventory increased by 6.33 million barrels, estimated to increase by 0.5 million barrels. Distillate inventory increased by 6.071 million barrels, estimated to increase by 0.5 million barrels. Cushing Crude Oil Product inventory decreased by 2.502 million barrels. Refinery utilization rate increased by 0.6 percentage points, estimated to decrease by 0.5 percentage points. Crude Oil Product imports decreased by 0.498 million barrels per day. Crude Oil Product production decreased by 0.01 million barrels per day.
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