U.S. Oil Rises High

Thursday, July 05, 2001
U.S. oil prices rose on Thursday, prompted by a hefty inventory draw last week, as traders shrugged off Iraq's announcement that it would soon restart exports. Crude for August delivery gained 81 cents to last trade at $27.05 a barrel on the New York Mercantile Exchange (NYMEX). The U.S. Energy Information Administration (EIA) said crude stocks fell by 4.8 million barrels last week, higher than the industry group American Petroleum Institute (API) estimate of a four million barrel draw. Crude stocks now stand at about 310 million barrels, cutting down year-on-year surplus to under 20 million barrels. Refineries drained inventories as they stepped up production of refined products by 2.4-2.6 percent to around 97 percent of capacity. Demand for gasoline, meanwhile, jumped last week to 9.6 million barrels per day (bpd) ahead of the Fourth of July driving period, from 8.56 million bpd the previous week. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Long Beach Sees Robust Container Growth

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Energy

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Total Proposes 0.61 ‎€ per Share Dividend

The Board of Directors of Total met on February 10, 2016, and agreed to propose to the Annual Shareholders’ Meeting on May 24, 2016, a 2015 annual dividend of 2.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0849 sec (12 req/sec)