Category: inventories
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Strong Consumer Spending And Private Inventories Boosted U.S. GDP in Q2
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The preliminary estimate of US GDP for the second quarter of 2024 showed Economy grows by 2.8%This is much faster than the expected 2.5% increase and almost double the downwardly revised 1.4% growth in the previous quarter! The Ministry of Commerce explained that the acceleration in growth from the first…
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Crude oil rises as U.S. inventories fell for third straight week (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures rose on Wednesday, snapping a three-session losing streak, after the United States reported a much larger-than-expected draw in crude inventories last week, marking a third straight decline. the Crude inventories fell by 4.9 million barrels. It was accompanied by Gasoline and diesel stocks…
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U.S. oil price climbs to highest since mid-April on sharp draw in inventories
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SlavkoSereda/iStock via Getty Images Crude oil futures rose on Wednesday after a larger-than-expected drawdown in U.S. inventories, in thin trading ahead of the U.S. Independence Day holiday. The weekly report from the US Energy Information Administration showed broad-based declines in crude and refined product inventories, with crude inventories falling Crude…
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Rising fuel inventories hit crack spreads, likely signaling refining slowdown ahead
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Slavko Sereda/iStock via Getty Images Oil futures posted strong weekly gains that offset the big decline that followed OPEC’s June 2 announcement of its plan to begin bringing back about 2.2 million barrels per day of crude oil later this year. It’s been a week taught by Conflicting demand forecastsOPEC…