Goldman Sachs says global oil stockpiles fell at a record pace of 8.7mln bpd so far in May, adds “Physical markets continue to tighten, as estimated oil exports through the strait remain at a very low 5% of normal”
Newsquawk Staff ·
Goldman Sachs says global oil stockpiles fell at a record pace of 8.7mln bpd so far in May, adds “Physical markets continue to tighten, as estimated oil exports through the strait remain at a very low 5% of normal”
Sources
- [MARKET ANALYSIS] Oil prices hold onto gains after rallying amid geopolitical concerns with reports noting US and Israeli military are drawing up plans to resume strikes on Iran
- Japan government considers cutting gasoline subsidies from December, according to officials
- CRUDE WRAP: WTI (Z6) SETTLES USD 2.32 HIGHER AT 99.47/BBL; BRENT (Z6) SETTLES USD 4.35 HIGHER AT USD 113.17/BBL
- Russian Cabinet says gasoline and diesel production has increased on the Russian market and stocks are being formed, TASS reports; Deputy PM Novak notes positive dynamics in the Russian fuel market
- US EIA Natural Gas Stocks Change (Oct/16) 77Bcf vs. Exp. 79Bcf (Prev. 67Bcf)
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