Crude inventories decrease and gasoline demand hits a one-year low

  • Oil prices rise after drop in U.S. crude inventories
  • Crude inventories drop by 9.2 million barrels
  • U.S. crude output decreases by 1 million barrels a day
  • Gasoline inventories increase by 4.9 million barrels
  • Gasoline demand drops to a one-year low

Oil futures rose on Thursday as U.S. crude inventories saw a larger-than-expected drop of 9.2 million barrels. Additionally, U.S. crude output decreased by 1 million barrels a day. Gasoline inventories, on the other hand, increased by 4.9 million barrels. Gasoline demand dropped to a one-year low, signaling potential impacts from adverse winter weather. Traders should monitor the speed of oil production recovery and the recovery of consumer demand for refined products to gauge future price movements.

Public Companies: New York Mercantile Exchange (NYMEX), ICE Futures Europe (ICE)
Private Companies:
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Factuality Level: 7
Justification: The article provides information about the rise in oil futures and the reasons behind it, including the drop in U.S. crude inventories and production. It also mentions the rise in gasoline inventories and the drop in gasoline supplied. The article does not contain any obvious bias or personal perspective. However, it lacks in-depth analysis and context, and it could provide more information about the impact of adverse winter weather on the oil and refined product markets.

Noise Level: 3
Justification: The article provides relevant information about the rise in oil futures and the factors driving the market. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on short-term price movements and does not explore long-term trends or antifragility of the oil market.

Financial Relevance: Yes
Financial Markets Impacted: Oil futures market

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the rise in oil futures prices due to larger-than-expected drops in U.S. crude inventories and production. While there is no mention of an extreme event, the information provided is relevant to financial markets, specifically the oil futures market.

Reported publicly: www.marketwatch.com