US EIA Heating Oil Stocks Change (Jan/02) 0.672 (Prev. 0.134)
Newsquawk Staff ·
US EIA Heating Oil Stocks Change (Jan/02) 0.672 (Prev. 0.134)
What it means
The latest EIA data shows a significant increase in heating oil stocks, rising from 0.134 million barrels to 0.672 million barrels. This larger-than-expected build may indicate softer demand or oversupply in the heating oil market, which could pressure prices further, especially for WTI. Traders should consider this data in the context of current supply-demand dynamics, particularly as it relates to broader energy market sentiment.
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- Eight tankers carrying 300,800 tonnes of Russian diesel are being monitored on potential voyages to the US, with seven declaring the US as their destination and arrivals expected from November 7th, according to Ukrainian sources cited by an RFE journalist
- Israel has shared intelligence with the US asserting that Iran is considering the use of chemical weapons against its adversaries, information met with alarm by some American officials and deep skepticism by others, NYT reports citing sources
- [MARKET UPDATE] Crude benchmarks sink on reports that the US and Tehran have made concessions related to the Iranian nuclear program and frozen funds; Brent Jan'27 has slipped beneath USD 102/bbl
- US President Trump says they have total control of the Middle East. Israel has been a helper.
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