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Oil Concentrations Slide on roughing



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The energy management reported a modest oil inventory of 3.1 million barrels a week until July 1

2, which confirms and exceeds the US Petroleum Institute's Tuesday's estimate of a small 1.401 million barrel drawing.

Today's figures follow an estimated 9.5 million barrels of oil inventories for the previous reporting period. 19659004] In gasoline, EIA reported a building of 3 , 6 million barrels last week, as compared to a 1.5 million barrel a week earlier, gasoline production averaging 9.9 million bpd, which compares to 10.4 million bpd a week earlier.

] I Distillate Fuel reported an increase in inventory of 5.7 million barrels, against a 3.7 million barrel building last week, last week producing an average of 5.4 million bpd for the second week in a row. [19659004] Oil prices I would strongly like to say on Tuesday that US Secretary of State Mike Pompeo claimed that Iran was ready to come to the negotiating table over the atomic object and fired fear that the tensions in the Middle East might threaten to tighten the oil supply soon.

But the prices traveled when Iran refused the US claims it was prepared to do so. The API's small crude oil moves yesterday did little to arrest the oil price picture.

WTI was on the way up to the VAT report in stock on Wednesday morning, and traded $ 0.37 a day at $ 57.99, while Brent trades $ 0.69 a barrel at $ 65.04 at 10am : 11 EST.

By writing, Brent crude traded at USD 64.95 per barrel, with West Texas Intermediate at $ 57.92 per barrel.

Tensions in the Middle East near the world's most important oil chokepoint will probably rage as the mystery continues around a small tanker that stopped transferring its location near the Hormuz Strait. Iran claims it had pulled the ship to help, while the United States had claimed Iran had hijacked the vessel – just the last of several Middle East events.

By Irina Slav for Oilprice.com

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