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2016-05-12 Economy
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Crude Prices Soar On Surprise EIA Inventory Draw
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 [IBD] Oil jumped Wednesday after the Energy Information Administration reported a surprise drop in crude inventories.
The EIA reported a draw of 3.4 million barrels last week. Late Tuesday, the American Petroleum Institute, an industry group, said U.S. crude inventories rose by 3.45 million barrels, and analysts were expecting a build.
The EIA also said domestic production dipped to 8.805 million barrels a day from 8.825 million barrels the prior week.
Brent crude climbed rose 4.6% to $47.60 per barrel, and U.S. crude jumped 3.5% to 46.23. Oil had fallen earlier in the day as production resumed in Canada’s tar sands after a massive fire halted operations for a week. Gasoline futures shot up 6%.
Exxon Mobil (XOM) fell 1.3% on the stock market today. Royal Dutch Shell (RDSA) and BP (BP) were virtually unchanged. Chevron (CVX) shares dipped 0.1%.
Meanwhile Iranian oil exports have come on stronger than analysts first expected, hitting 700,000 barrels per day from presanction levels in April, according to Helima Croft, chief commodity strategist at RBC Capital Markets, quoted in a report from MarketWatch. 
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Posted by Besoeker 2016-05-12 00:57||
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Posted by USN, Ret. 2016-05-12 14:57||
2016-05-12 14:57||
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Posted by Silentbrick 2016-05-12 22:18||
2016-05-12 22:18||
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14:34 Frank G
14:28 Melancholic
14:27 NoMoreBS
14:14 swksvolFF
14:12 swksvolFF
13:54 mossomo
13:51 mossomo
13:50 NoMoreBS
13:50 Abu Uluque
13:44 Abu Uluque
13:41 NoMoreBS
13:39 Abu Uluque
13:36 mossomo
13:36 swksvolFF
13:32 mossomo
13:26 Frank G
13:12 Regular joe
13:12 mossomo
13:11 swksvolFF
13:08 Abu Uluque
13:00 swksvolFF
12:59 Regular joe
12:55 Skidmark
12:53 Skidmark
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