LME Halts Trading in Nickel as Price Tears $100,000 Level per Ton
(FT) The London Metal Exchange banned trading in nickel contracts on Tuesday as prices rose past $100,000 per ton. The price rally follows moves by the market to cover short…
US Crude Stockpiles Plunged by 2.6M Barrels Last Week
(EIA) US inventories of commercial crude oil were 413.4 million barrels in the week that ended February 25, down by 2.6 million barrels from the previous week. Inventories of motor…
IEA to Go for Emergency Crude Stocks as Oil Tops $100 Due to Ukraine Crisis
(Bloomberg) The International Energy Agency has agreed with other major economies to engage in a coordinated release of oil stockpiles following price rises above $100 a barrel. The IEA agreed…
EIA Reports a 1.1M Barrels Rise in US Crude Oil Inventories
(EIA) Stockpiles of US crude oil inventories rose by 1.1 million barrels to 411.5 million barrels in the week that ended February 11. During the week, inventories of motor gasoline…
IEA Warns of Tightness in Oil Markets as OPEC+ Pump Below Capacity
(IEA) The International Energy Agency says oil markets are still tight, warning that OPEC+ members produced 900,000 barrels per day in January, below target. The oil organization raised the demand…
EIA Reports a 4.8M Barrels Decline in Crude Oil Inventories
(EIA) US stockpiles of commercial crude fell by 4.8 million barrels in the week that ended February 4, to 410.4 million barrels. Inventories of motor gasoline fell by 1.6 million…
EIA Reports a 1.0M Barrels Decline in US Crude Inventories
(EIA) The US recorded an average of 415.1 million barrels of crude in the week that ended January 28, down by 1.0 million barrels from the previous week. Crude refinery…
OPEC+ Sticks With 400k bpd Crude Supply Increase for March Amid Output Struggle
(Bloomberg) OPEC+ has agreed to pump the market with additional 400,000 barrels a day of crude for March, despite some members struggling to meet monthly hikes. The expected move by…
Gold Held by Central Banks Closed 2021 on a 30-Yr High as Jewellery Led Demand
(GoldHub) Global central banks’ appetite for gold rose in 2021, with total accumulations jumping by 82% from the prior year to 463 tonnes. The fourth quarter saw central bank gold…
Crude Oil Inventories Increase by 2.4 Million Barrels in the US
(EIA) The US posted a total of 416.2 million barrels of crude inventories in the week that ended January 21, up by 2.4 million barrels from the previous week. Crude…
Crude Oil Inventories Surge by 0.5M Barrels, Refinery Inputs Edge Lower
(EIA) US crude oil inventories rose by 0.5 million barrels in the week ending January 14 to hit 413.8 million barrels. In the week, crude refinery inputs were reported at…
IEA Hikes Oil Demand by 200K bpd, Expects a Return to Pre-Pandemic Levels in 2022
(IEA) The International Energy Agency has raised its demand forecast for oil in 2022 by 200,000 barrels a day to 3.3 million bpd, citing growing Covid-19 vaccinations and the low…