fell by 3.6 million barrels for the week ended April 8, according to an estimate released Tuesday by the American Petroleum Institute. That compared with a draw of 2.6 million barrels reported by the API for the previous week. The API also showed that gasoline inventories increased by about 5.6 million last week, compared with a 4.5 million build in the prior week, and distillate stocks fell by about 3.0 million barrels.
Let hope there is a big draw down tonight. Been out &about lateley and UK roads seem to be getting back to normal USA should do also soon plus there driveing session kicks off soon and by a post Jan posted most are going to be driveing long distance & take longer hoildays . Put it this way i did not go to Italy last year cos of the coved but the locals told me the town was packed with people driveing down from the north of Italy they said campsites the town was the busiest its ever been so imo i think euro land will catch up very soon.
Yes brent is the main driver on the Sp but at $62 -$64 i wouls have thought enq would have held up better. FCF at them prices should be impressive. How much is our breakeven what did we get it down to ?
Enq is not the only small oiler down Hbr Tlw oh & big old Bp. Our creditors are backing enq otherwise we would not be buying into the ne lieence with out there backing. I how ever do not &can not work out why enq hrb tlw are going down last few days with poo sitting at $63 baffled
The Biden administration is trying to win friends in Iran and influence Ayatollahs basically begging and pleading for Iran to rejoin the 2015 nuclear deal. Not only has Biden offered to call the Supreme grand poo-bah Ali Khamenei directly but his administration says it is ready to lift all sanctions that are inconsistent with the JCPOA nuclear accord. Oil traders have seen this coming and in the recent selloff had started to price in the return of Iranian oil, but I am not sure that they expected it might be this quick, assuming it happens. Iran is already laughing off oil sanctions, exporting over 1.5 million barrels a day and rising so it is unclear that Iran has any real incentive to call back into the deal unless they can get Biden to give them boatloads of U.S. taxpayers' money. Maybe if Biden kisses the ring of Ayatollah Khamenei against the backdrop of shouts of “death to America and Israel” the supreme whatever he is might agree. More to the topic but rest is not funny imo