Oil Market Faces Mixed Signals as Supply and Demand Factors Clash
TL;DR Summary
Crude oil prices fell after the US Energy Information Administration reported a 5 million barrel inventory build for the week to May 12, with crude oil inventories just below the five-year average for this time of year. Gasoline inventories fell by 1.4 million barrels, while middle distillates saw an inventory increase of 100,000 barrels. Despite a global oil demand growth revision by the International Energy Agency, oil prices remain weak due to concerns over China's industrial numbers.
- Oil Inches Down As EIA Confirms Crude Build OilPrice.com
- Oil price dip ignores burgeoning Chinese demand and imminent supply crunch, IEA warns CNBC
- US crude stockpiles soar on SPR release; gasoline draws down on strong demand, EIA says Reuters
- The oil market’s real weakness is supply, not demand Moneycontrol
- Oil Prices Rise Amid Expectations Of A Tightening Market OilPrice.com
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