Energy Information Administration Reports Decrease in Oil Stockpiles
Energy Information Administration released its report on Wednesday and disclosed decline of 3.4 million barrels in crude oil inventories for the week ending January 13th, 2012. Analysts were expecting the increase of 2.6 million barrels in the crude oil supplies. API on the other hand reported the decline of 4.8 million barrels in crude oil supplies a day earlier.
EIA also reported the increase of 3.7 million barrels in gasoline inventories which was much closer to analysts’ expected increase of 3 million barrels for the week. Distillates inventories which include, diesel and heating oil gained 400,000 barrels while analysts forecasted the increase of 1.4 million barrels.
EIA reported the decline of 87 billion cubic feet in natural gas supplies for the week ending January 13th, while analysts were expecting the decline of anywhere between 88 to 92 billion cubic feet. In the prior week EIA reported the decrease of 228 billion cubic feet.
Crude oil futures contract for February delivery fell 0.2 percent or $0.20 to settle at $100.39 per barrel on the New York Mercantile Exchange.
Among other commodities gasoline futures contract for February delivery fell 0.3 percent or $0.01 to settle at $2.82 per gallon while heating oil futures gained 0.8 percent or $0.2 to settle at $3.04 per gallon.
Natural gas futures for February delivery slipped 6.1 percent or $0.15 to settle at $2.32 per million British thermal units.
Twitter •
Most Popular Content
- Copper Finds Its Footing as Market Sentiment Improves
- S&P 500 Grinds Higher as Rate Cut Hopes Simmer
- Bitcoin Holds Near $120K as 401(k) Buzz Meets Inflation Jitters
- Pound Climbs on BoE Cut and Dovish Signals
- Gold Soars on Tariff Shock as Copper Holds Steady
- Markets Wobble After Highs as Fed Holds Steady and Earnings Send Mixed Signals
- Copper Prices Drift in the Wake of a Surprise Tariff Shock
- Gold Prices Retreat from Highs Amid Easing Geopolitical Tensions
Currency Articles - Aug 13, 2025 1:07 - 0 Comments
Bitcoin Holds Near $120K as 401(k) Buzz Meets Inflation Jitters
More In Currency Articles
Gold and Oil News - Aug 9, 2025 6:33 - 0 Comments
Gold Soars on Tariff Shock as Copper Holds Steady
More In Gold and Oil News
- Copper Prices Drift in the Wake of a Surprise Tariff Shock
- Gold Prices Retreat from Highs Amid Easing Geopolitical Tensions