{"id":21739,"date":"2021-01-27T11:41:52","date_gmt":"2021-01-27T10:41:52","guid":{"rendered":"https:\/\/www.stocexpo.com\/?p=21739"},"modified":"2021-01-27T11:42:29","modified_gmt":"2021-01-27T10:42:29","slug":"oil-prices-rebound-on-larger-than-expected-crude-draw","status":"publish","type":"post","link":"https:\/\/www.stocexpo.com\/en\/2021\/01\/27\/oil-prices-rebound-on-larger-than-expected-crude-draw\/","title":{"rendered":"Oil Prices Rebound On Larger Than Expected Crude Draw"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"21739\" class=\"elementor elementor-21739\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-800f046 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"800f046\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4e2120dd\" data-id=\"4e2120dd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-79ffcd9a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79ffcd9a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3e9097b4\" data-id=\"3e9097b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ffdcdd6 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"1ffdcdd6\" data-element_type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Oil Prices Rebound On Larger Than Expected Crude Draw<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11e53b22 elementor-align-left elementor-widget elementor-widget-post-info\" data-id=\"11e53b22\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-7a16641 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>27\/01\/2021<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28b354c0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"28b354c0\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20a3734f elementor-widget elementor-widget-text-editor\" data-id=\"20a3734f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"field field-name-field-teaser field-type-text-long field-label-hidden \"><div class=\"short\"><div class=\"lead\"><div class=\"lead\"><div class=\"entry-summary\"><div class=\"lead\"><p>The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 5.272 million barrels for the week ending January 22.<\/p><p>Analysts had predicted an inventory smaller draw of 430,000 barrels for the week.<\/p><p>In the previous week, the API reported a build in oil inventories of 2.562-million barrels, after analysts had predicted a draw of 1.167 million barrels.<\/p><p>Oil prices were trading down on Tuesday ahead of the data release. China lockdowns, the IEA&#8217;s grim outlook on oil demand, a slow global rollout of the coronavirus vaccine, and a potential delay or hiccup in the next round of stimulus payments that the new administration said would be pushed through right away is dragging on prices.<\/p><p>A half-hour before Tuesday&#8217;s data release, WTI had fallen by $0.27 on the day (-0.51%) to $52.50, down $0.80 since last Wednesday.<\/p><p>The Brent crude benchmark had fallen on the day $0.06 at that time (-0.11%) to $55.82\u2014down $0.70 on the week.<\/p><p>U.S. oil production has remained steady at 11.0 million bpd for six weeks in a row, according to the latest data provided by the Energy Information Administration, with limited expectations of any rapid production increases as oil companies tread carefully.<\/p><p>The API reported a build in gasoline inventories of 3.058 million barrels for the week ending January 22\u2014compared to the previous week&#8217;s 1.129-million-barrel build. Analysts had expected a 1.764-million-barrel build for the week.<\/p><p>Distillate stocks saw an increase of 1.398 million barrels for the week, adding onto last week&#8217;s 816,000-barrel increase, while Cushing inventories fell by 3.475 million barrels.<\/p><p>At 4:36 p.m. EDT, the WTI benchmark was trading at $52.55, while Brent crude was trading at $55.87.<\/p><\/div><p>Source: <a href=\"https:\/\/oilprice.com\/\">OilPrice.Com<\/a><\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7360b72d\" data-id=\"7360b72d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-element 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fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 5.272 million barrels for the week ending January 22. Analysts had predicted an inventory smaller draw of 430,000 barrels for the week. In the previous week, the API reported a build in oil inventories of 2.562-million barrels, after analysts had [&hellip;]<\/p>\n","protected":false},"author":85,"featured_media":21741,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Oil Prices Rebound On Larger Than Expected Crude Draw | StocExpo","_seopress_titles_desc":"Oil Prices Rebound On Larger Than Expected Crude Draw. You can keep up-to-date with all the latest industry bulk liquid storage news here with StocExpo.","_seopress_robots_index":"","footnotes":""},"categories":[322,268],"tags":[],"edition":[],"class_list":["post-21739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage","category-in-the-news"],"_links":{"self":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/21739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/users\/85"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/comments?post=21739"}],"version-history":[{"count":0,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/21739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media\/21741"}],"wp:attachment":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media?parent=21739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/categories?post=21739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/tags?post=21739"},{"taxonomy":"edition","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/edition?post=21739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}