Be sure to check our website

Oil prices jump on large inventory draw

Crude oil prices jumped higher today after the Energy Information Administration reported a crude oil inventory draw of 9.9 million barrels for the week to January 22. Fuel inventories were mixed.

The crude oil draw compared with a build of 4.4 million barrels for the previous week. It also compared with analyst expectations for a modest increase of some 600,000 barrels.

In gasoline, the authority reported an inventory increase of 2.5 million barrels for the week to January 22, with production averaging 8.7 million bpd. This compared with a modest inventory decline of 300,000 barrels and average production of 8.9 million bpd for the previous week.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

Read the full article
Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Union Jack Oil

More articles like this

Union Jack Oil

Oil rises over 1%

4th May 2021

Oil rose more than 1% on Monday as Chinese economic figures and U.S. vaccination rates pointed to a strong rebound in demand in the world’s two largest economies. Investors remain wary, however, over record-breaking infection rates in India,

Union Jack Oil

Oil gains more than 1% on fuel demand optimism

29th April 2021

Crude prices rose more than 1% on Wednesday, after U.S. distillate inventories posted a large drawdown and refiners ramped up activity to the highest in over a year, boosting hopes for rising fuel demand in the world’s top

Union Jack Oil

Union Jack Oil launch new corporate website

27th April 2021

Union Jack Oil plc (LON:UJO), a UK focused onshore hydrocarbon production, development and exploration company has announced the launch of a new corporate website at www.unionjackoil.com The new corporate website contains several new features, many of which have excellent

Union Jack Oil

Oil climbs on hopes for demand recovery

23rd April 2021

Oil prices climbed on Friday, buoyed by hopes demand will recover as economic growth picks up and lockdowns ease, but worries about India’s surging second wave of COVID-19 cases limited gains. Brent crude futures rose 42 cents, or

© 2021 – DirectorsTalk. All rights reserved. Reproduction in whole or in part, in any form or medium without express written permission is prohibited