Oil futures edged higher early Wednesday, with traders awaiting official data on U.S. crude inventories after industry figures showed a large rise.
More... Oil futures edged higher early Wednesday, with traders awaiting official data on U.S. crude inventories after industry figures showed a large rise. More widely followed official data from the Energy Information Administration is due Wednesday morning. Analysts surveyed by S&P Global Commodity Insight, on average, look for crude inventories to fall by 800,000 barrels, gasoline stocks to decline by 1.6 million barrels and distillate inventories to drop 1.5 million barrels.
“It is my profound duty to make it clear to the world that losing emergency stock may become painful in the months to come,” he said, after complaining that strategic reserves had been used to “manipulate markets.”
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Saudi energy minister says countries should not misuse oil stocksSaudi Arabia's energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. 😅😅🤣🤣🤣🤣🤣😆 Saudi is still a terrorist fanatic country and the families of September11 do not forget. when those are out no more job for him
Source: Reuters - 🏆 2. / 97 Read more »
Heating oil company warns 'perfect storm' coming this winter unless supplies are replenishedApple Oil president Sam Livieri said the cost of heating oil, which he estimated is 40% higher than 2021, is 'detrimental' to the elderly and those on fixed incomes. Those dirty fossil fuel users, punish them. That is the Biden Admin plan. There is plenty of heating oil. Those who have difficulty paying, there is a government program called LIHEAP. I know Republicans don't pass along information about assistance programs. FYI Relax everyone. This is just fear mongering. We are fine.
Source: FoxNews - 🏆 9. / 87 Read more »