Analyzing US Gasoline Inventories and Demand

Oil Dips Toward $57 on Signs US Gasoline Stockpiles Expanded

It reported that U.S. gasoline and distillate inventories rose by 9,200,000 barrels and 4,300,000 barrels on November 24-December 1, 2017.

US crude inventories dropped by 5.48 million barrels last week, the API said Tuesday, according to people familiar with the data.

U.S. gasoline demand fell by 871,000 bpd (barrels per day) or 9% to 8,724,000 bpd on November 17-24, according to the EIA.

In parallel, oil imports declined by 127,000 barrels a day from the week before to an average rate of 7.2m b/d.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.8 million barrels, EIA said.

Recent spurt in oil prices is triggering a response from the suppliers.

Special counsel details $3.2 million in spending on Russian Federation case
Though Flynn already admitted that other top transition officials - including Jared Kushner, the president's son-in-law, and K.T. Russian Federation has denied meddling in the election and Trump has called the special counsel's investigation a "witch hunt".

Needle Moving Activity Spotted in Ascena Retail Group, Inc. (NASDAQ:ASNA)
Pnc Fincl Svcs Inc invested 0% in Ascena Retail Group, Inc . (NASDAQ: ASNA ) on Tuesday, September 20 to "Market Perform" rating. Finally, KeyCorp restated a "hold" rating on shares of Ascena Retail Group in a report on Thursday, November 16th.

High Court allows full enforcement of Trump travel ban
Six of the total eight countries barred by Trump's order are Muslim majority - Syria, Libya, Iran , Yemen, Chad, and Somalia . The Republican president has said the travel ban is needed to protect the United States from terrorism by Islamic militants.

Oil prices were mixed heading into today's data, with WTI down $.02 (-0.03%) at $57.45 at 12:06pm EST, and Brent crude up $0.14 (-0.22%) at $62.59-both benchmarks down from prices just two days before the OPEC meeting last week, despite OPEC's promise to continue the production cuts through the end of 2018.

But the price has slipped from November's peak at around $65 USA a barrel, the highest since mid-2015.

Oil prices came under pressure Tuesday when the Organization of Economic Cooperation and Development said inflation moved lower for the world's major industrialized economies. Crude prices have risen more than 20% since September.

According to traders, the EIA report is expected to show a draw of 3.2 million barrels. Distillates rose by 4.26 million barrels. Refineries were running at 93.8% of capacity, with daily input averaging 17.2 million barrels a day, about 192,000 barrels a day more than the previous week's average.

"Yet should the supply outlook fail to worsen, the odds are that oil prices will hover around current levels until next June", Brennock added.

Exxon Mobil Corp. (NYSE: XOM) traded up less than 0.1%, at $82.90 in a 52-week range of $76.05 to $93.22. The global benchmark crude traded at a premium of $5.19 to February WTI. As of last night's close, Chevron shares are trading up about 6.4% over the past 12 months. It ranks first in oil futures trade.

Related News:

  • UnitedHealth to buy DaVita primary care unit for $4.9 billion

    UnitedHealth to buy DaVita primary care unit for $4.9 billion

    The deal is expected to close in 2018, but is subject to regulatory approvals. The acquisition of DaVita would expand that reach considerably.
    Mueller has spent $3.2M on Russian Federation  investigation

    Mueller has spent $3.2M on Russian Federation investigation

    Mueller, a former Federal Bureau of Investigation director, appears to be moving at a faster pace than previous investigators. Of the $3,213,695 spent, the biggest expense was $1,709,597 in salaries and benefits for prosecutors and investigators.
    Shares in Poundland owner crash as CEO quits amid accounting probe

    Shares in Poundland owner crash as CEO quits amid accounting probe

    The company added it also needs to determine if any financial statements from previous years need to be restated. It is not clear if these are the accounting irregularities the company was referring to in its statement.
  • MS Dhoni eligible to play for Chennai Super Kings in IPL 2018

    MS Dhoni eligible to play for Chennai Super Kings in IPL 2018

    Besides, the IPL Governing Council also increased the "Minimum Auction Reserve Price" for both the uncapped and capped players. Besides, the IPL also got a windfall of 16,347.50 crore thanks to its media rights, bought by STAR India.
    Apple's iOS 11 Is Installed On 59% Of iOS Devices

    Apple's iOS 11 Is Installed On 59% Of iOS Devices

    The latest version of iOS comes with some important security updates, it also adds in new features like Apple Pay Cash in the US. Google has finally pushed out a Gmail iOS update that adds support for the iPhone X's attractive , slightly unusual display.
    Michael Owen states his prediction for Tottenham v Apoel Nicosia

    Michael Owen states his prediction for Tottenham v Apoel Nicosia

    Writing in his column for BetVictor , ex-striker Owen said: "No Cypriot side has beaten English opposition in European competition and I can't see Apoel bucking that trend at Wembley".
  • Lena Dunham Says She Warned Hillary Clinton About Harvey Weinstein

    Lena Dunham Says She Warned Hillary Clinton About Harvey Weinstein

    Regarding Dunham's claims, Merrill retorted, "Only she can answer why she would tell them instead of those who could stop him". Dunham also says she warned Adrienne Elrod, a spokeswoman for Clinton who associated with celebrities during the campaign.

    The Investors Buy Large Volume of Put Options on Rite Aid (RAD)

    The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters' consensus estimate of ($0.01). The stock of Osisko Gold Royalties Ltd. (TSE:OR) has "Outperform" rating given on Tuesday, January 24 by RBC Capital Markets.
    No breakthrough in Brexit talks, says EU's Jean-Claude Juncker

    No breakthrough in Brexit talks, says EU's Jean-Claude Juncker

    The EU estimated at some 60 billion euros ($71 billion) what Britain should pay to cover outstanding obligations on leaving. Varadkar said he is willing to see changes in the text - but not something that would change its actual meaning.
  • Arrested in Plot to Assassinate British PM

    Arrested in Plot to Assassinate British PM

    The men were arrested last week following a joint operation by MI5, the UK's counter-terrorism security service, and police. In March, Khalid Masood drove a auto at pedestrians on Westminster Bridge and stabbed a policeman guarding Parliament.
    Labor Senator referred to High Court over citizenship

    Labor Senator referred to High Court over citizenship

    Ms Gallagher asked for the referral because she was a British citizen on the nomination date for the 2016 election. Ms Wong said Labor did not resile from their belief Senator Gallagher is entitled to be in Parliament.
    Impact assessment of Brexit on the United Kingdom  'don't exist'

    Impact assessment of Brexit on the United Kingdom 'don't exist'

    Impact assessments would begin "a little closer to the negotiating timetable", Davis told the committee. As recently as October, Mr Davis told MPs that sectoral reports existed in "excruciating detail".


Most liked

Female Democratic senators call for Al Franken to resign
Their calls came after a seventh woman came forward to accuse the Minnesota Democrat of sexual misconduct . As she hastily left the room, she said, Franken told her: "It's my right as an entertainer".

New Match Announced For WWE Clash Of Champions
Adam James & Josh Carr (local competitors) by Harper pinning Adam James following the double arm-lift crucifix powerbomb. They are then informed that Rusev & English have been added to the match. -Kevin Owens and Sami Zayn vs.

Vladimir Putin to stand for re-election as Russian president
After first taking power in 2000, Putin has served three terms as president, with a four-year break when he served as prime minister in 2008-2012.

Atlanta mayoral candidate demands recount after close loss
Results from Atlanta's mayoral race will be recounted on Saturday after voters delivered a almost split decision Tuesday night. But as Stephannie Stokes reports from member station WABE in Atlanta, the crowd at Norwood's election party was energized too.

Dan Quinn wants "loud and fun" crowd on Thursday night
On Sunday, Kamara became only the third rookie runner to join the 600-600 club for rushing and receiving yards in a single season. He leads the team with four touchdown catches and his 11 total touchdowns are tied with Todd Gurley for the most in the NFL .

Disney close to $60B deal to buy Fox
Fox's flagship broadcast network and the cable sports nets FS1 and FS2 are not included in the latest offer. By the time the story broke, however, the two sides had walked away from negotiations.

Xiaomi Redmi 5, Redmi 5 Plus Price Leaked Ahead Of Launch
The smartphones are being sold by Xiaomi Online Store but the seller's connection with Xiaomi is not be verified. Xiaomi is bringing with new Redmi 5 , the Full view display design in the low budget smartphone segment.

Why is BBC being accused of Racism by Bollywood Fans?
Radio 4's Saturday Live presenter Aasmah Mir wrote: "I'm really annoyed about the BBC Shashi Kapoor thing". He was the youngest son of Prithviraj Kapoor, a veteran of Bollywood and the theatre.

Virat Kohli, Anushka Sharma to tie the knot?
Virat Kohli and Anushka Sharma have been dating each other since 2013 after they met during the shoot of a television commercial. When contacted, Anushka's spokesperson said, "There is absolutely no truth to it (rumours of marriage)".

Gus Malzahn Agrees To Seven-Year Deal To Stay With Auburn
Malzahn reiterated several times that he was to remain with the Tigers, saying "I'm happy at Auburn ". This news comes after fellow SEC school Arkansas reportedly expressed interest in hiring Malzahn.

Amazon Prime Video Lands On The Apple TV
As we didn't have access to an Apple TV at the time of writing, we cannot confirm whether it has rolled out officially. Six months ago today Apple announced that the Amazon Prime Video app was coming to the Apple TV .

The Silence Breakers named Time Person of the Year: 2017's #MeToo movement
The runner up for Person of the Year was President Donald Trump , followed by President of China, Xi Jinping . Time has been selecting the year's most influential person, group or idea since 1927.

Colin Kaepernick honored with Muhammad Ali Legacy Award
It's been said that racism is so American, that when we protest racism, some assume we are protesting America. Colin Kaepernick receives the SI Muhammad Ali Legacy Award at Barclays Center in NY on Tuesday night.

Family Reacts After Two Young Girls Found In Polygamist Sect
It comes after an Amber Alert was issued when their mother, Micha Soble, said her four children had disappeared on 13 September. Coltharp and Shaffer, Ray said, started a religion called Knights of the Crystal Blade and have baptized each other and Dinah.

GOP state lawmaker suggests Democrat who touched him may be gay
Metcalfe's comments were met by awkward laughs by Bradford and others in the meeting. Metcalfe, 55, has represented Pennsylvania's 12th district since 1999.