Crude oil inventories in the United States decreased this week by 4.382 million barrels, the American Petroleum Institute (API) data showed on Wednesday, after falling by 2.408 million barrels in the week prior as the IEA eyes a supply deficit in this half of the year.
Crude oil production in the United States stayed at 12.2 million bpd for the week ending June 23, according to EIA data, matching the previous low for this year.
The net draw in crude inventories since April is more than 15 million barrels.
Dow drops 400 pts amid Fed tightening worries
Private payrolls in the United States soared by 497,000 in June, according to the ADP National Employment Report published on Thursday. The figure surged past projections pushed up by a rise in employment in the service industry, which added 373,000 jobs, while the goods-producing industry employment rose by 124,000. The manufacturing and information sectors lost the most jobs, at 42,000 and 30,000 respectively. Small establishments gained the most employees at 299,000, followed by medium at 183,000, while large establishments cut 8,000 positions in total. Obviousley the long awated slow down is not happening…… Which means the FED is going to pounce again. The Dow Jones Industrial Average index extended losses on Thursday, falling over 400 points as the June jobs data sparked fears that the United States Federal Reserve will introduce additional interest rate hikes this year and maintain its restrictive monetary policy for longer than anticipated. The Dow Jones was down 1.17% or 400 points, the Nasdaq 100 lost 1.41% and the S&P 500 fell by 1.21% at 10:13 am ET. NN BlackMask Pod Cast:
Reality has a way with caching up with fiction
