U.S. Stock Build Eases Oil Pricing

Wednesday, November 29, 2000
U.S. crude stocks last week rose for the fourth straight week though low import levels kept the increase below expectations, according to the American Petroleum Institute (API). The API showed crude stocks gained more than 1.8 million barrels for the week ending November 24, pulling the year-on-year deficit down to just 8.2 million barrels from nearly 30 million less than a month ago. Oil prices fell on news of the stockbuild, dipping 22 cents to $34/barrel. Analysts had expected a bigger build of around three million barrels, expecting that some 30 million barrels of crude that President Clinton ordered to be released from the Strategic Petroleum Reserve would now be hitting storage tanks. The API figures showed the SPR release had deterred imported crudes, reporting low crude imports of just 7.67 million bpd.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Nations Convene for Arctic Maritime Discussion

Citing an increasing need to ensure safety, security and stewardship of Arctic waters, member countries of the Arctic Council gathered at U.S. Coast Guard Headquarters

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1175 sec (9 req/sec)