WTI Holds Gains Despite ‘Small’ Draw; US Crude Production Nears Record High
Oil extended its biggest gain in more than a week, as US President Donald Trump ramped up his rhetoric against Russia and traders watched for supply disruptions from the OPEC+ member.
Additionally, in the US, API showed crude inventories fell 3.8 million barrels last week, though holdings of distillates increased.
“Oil prices remain supported as inventories in the OECD stay low, and it looks like the US will have another large crude draw,” according to Giovanni Staunovo, an analyst with UBS Group AG. Still, he added, higher OPEC+ crude exports so far in September remain a headwind.
All eye snow on the official data…
API
-
Crude -3.8mm
-
Cushing +72k
-
Gasoline -1.00mm
-
Distillates +518k
DOE
-
Crude -607k (-2.7mm exp)
-
Cushing +177k
-
Gasoline -1.08mm
-
Distillates -1.69mm
Following last week’s huge draw, crude inventories were expected to tumble once more (and did according to API), but the official data showed a very modest 607k drawdown in crude stocks while products saw significant draws too…
Source: Bloomberg
US production rose 19k barrels/day on the week, back near record highs, despite the big drop in rig counts…
Source: Bloomberg
Oil prices held their gains after the official data hit, up near three week highs..
Source: Bloomberg
But as Bloomberg reports, oil is little changed this month as traders weigh a bearish fundamental outlook against long-running geopolitical tensions. On the supply front, Iraq is finalizing a deal to restart crude exports from its Kurdistan region following a two-year halt. That could bring about 230,000 barrels a day back to the international market, exacerbating a looming glut.
Some market metrics point to strengthening, with Brent’s prompt spread — the difference between its two closest contracts — at 77 cents a barrel in backwardation, more than double the level two weeks ago. Meanwhile, the difference between the two closest December contracts widened to $1.68 a barrel from less than $1 a fortnight ago.
Tyler Durden Wed, 09/24/2025 – 10:38
Source: https://freedombunker.com/2025/09/24/wti-holds-gains-despite-small-draw-us-crude-production-nears-record-high/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,729,399,345 |
| Stories: | 8,499,322 |
Whistler Blowers, Insiders
