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Mixed Signals in Oil Market as Inventories Fluctuate and Refinery Activity Rises

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Source: OilPrice.com
Mixed Signals in Oil Market as Inventories Fluctuate and Refinery Activity Rises
Photo: OilPrice.com
TL;DR

Crude oil prices rose slightly after the Energy Information Administration reported a decline of 500,000 barrels in US crude oil inventories for the week to June 9. However, gasoline and middle distillate inventories increased, and oil prices have been under pressure due to concerns about global economic growth. Despite this, news of additional Saudi cuts helped push prices higher.

Topics:businessenergy#energy#energy-information-administration#global-economic-growth#oil-prices#opec#us-crude-oil-inventories
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  1. Oil Moves Up Despite Rising Product Inventories  OilPrice.com
  2. Oil: signs of tightness in the physical market will need to emerge for oil prices to rally  ForexLive
  3. U.S. Oil Inventories Decline as Refinery Activity Hits 4-Year High  The Wall Street Journal
  4. Large Builds In Product Inventories Force WTI Crude Prices Lower  OilPrice.com
  5. Latest Oil Prices, Market News and Analysis for June 7, 2023  Bloomberg

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