Crude and refined product futures prices rise following release of inventory and demand data
- Crude and refined product futures prices show gains after release of U.S. inventory and demand data
- Oil prices up $1/bbl, but off earlier highs
- Diesel futures seeing largest gains, up 6.25cts/gal
- Gasoline futures up by 1.85cts/gal
- Energy Information Administration reports little change in U.S. petroleum inventories
- Gasoline and diesel prices in most spot markets following futures’ movement upward
- Renewable Identification Number prices seeing deep losses
Crude and refined product futures prices have shown strong gains after the release of the latest U.S. inventory and demand data. Oil prices were up $1/bbl, but off earlier highs. Diesel futures saw the largest gains, up 6.25cts/gal, while gasoline futures were up by 1.85cts/gal. The Energy Information Administration reported little change in U.S. petroleum inventories, with crude inventories rising by 800,000 bbl and gasoline supplies adding 100,000 bbl. Distillate supplies fell by 800,000 bbl. Gasoline and diesel prices in most spot markets were following the futures’ movement upward. Renewable Identification Number prices were seeing deep losses, with D6 ethanol and D4 biodiesel RINs falling by 3cts for a second day in a row.
Factuality Level: 8
Factuality Justification: The article provides factual information about the prices of crude oil and refined products, as well as the latest U.S. inventory and demand data. It includes specific figures and contracts for different benchmarks. The information is sourced from the Energy Information Administration and market players. There is no apparent bias or opinion presented in the article.
Noise Level: 3
Noise Justification: The article provides specific information on crude and refined product futures prices, U.S. inventory and demand data, and the performance of different contracts. It also includes information on gasoline and diesel prices in spot markets and the movement of Renewable Identification Number prices. However, the article lacks analysis, scientific rigor, and actionable insights. It mainly focuses on reporting data without providing any meaningful context or implications.
Financial Relevance: Yes
Financial Markets Impacted: Crude oil and refined product futures markets
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the prices of crude oil and refined products in the futures markets, indicating financial relevance. However, there is no mention of any extreme events or their impact.
Public Companies: West Texas Intermediate (WTI), Brent (Brent)
Private Companies: Oil Price Information Service,Dow Jones & Co.
Key People: Steve Cronin (Reporter), Michael Kelly (Editor)
Reported publicly:
www.marketwatch.com 
