May 15, 08:09 AM

Oil Prices Rise on Shrinking U.S. Stockpiles and IEA Assessment on May 14-15

Oil prices have risen due to reports of shrinking U.S. stockpiles and anticipation of an assessment by the International Energy Agency (IEA). On May 14, the IEA reported that global oil inventories surged by 34.6 million barrels in March, with oil on water reaching a fresh post-pandemic high. Early data suggests that global oil stocks continued to rise in April. On May 15, traders are also weighing the demand outlook as U.S. supplies decline.

#International Energy Agency #IEA

Written with ChatGPT (GPT-4o).

Sources

Myra Saefong@MktwSaefong
2 years ago
Oil turns higher on decline in U.S. supplies as traders weigh demand outlook https://t.co/DFlq2wXXhH
The Globe and Mail@globeandmail
2 years ago
Oil prices rise on U.S. inventories drawdown expectations https://t.co/UEmvPJQWko
RedboxGlobal@RedboxWire
2 years ago
IEA SAYS GLOBAL OIL INVENTORIES SURGED BY 34.6 MILLION BARRELS IN MARCH, AS OIL ON WATER SWELLED TO FRESH POST-PANDEMIC HIGH; EARLY DATA SUGGESTS GLOBAL OIL STOCKS ROSE FURTHER IN APRIL

Oil Prices Rise on Shrinking U.S. Stockpiles and IEA Assessment on May 14-15

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