Author: BlackMask Financial

Petroleum Report for the week ending October 24, 2025

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve decreased by 6.9 million barrels from the previous week. At 416.0 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending October 24, 2025, which was 511 million barrels per day less than the previous week’s average. Refineries operated at 88.6% of their operable capacity last week. Gasoline production decreased last week, still averaging 9.6 million barrels per day. Distillate fuel production decreased by 134 thousand barrels per day last week, averaging 4.5 million barrels per day. U.S. crude oil imports averaged 5.1 million barrels per day last week, decreased by 867 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.7 million barrels per day, 5.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 466 thousand barrels per day, and distillate fuel imports averaged 109 thousand barrels per day. Total motor gasoline inventories decreased by 5.9 million barrels from last week and are about 3% below the five year
average for this time of year. Both finished gasoline and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.4 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories
increased by 2.5 million barrels from last week and are 14% above the five year average for this time of year. Total commercial petroleum inventories decreased by 15.9 million barrels last week. Total products supplied over the last four-week period averaged 20.8 million barrels a day, down
by 0.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 4.2% from the same as the last year period. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, down by 1.5% from the same period last year. Jet fuel product supplied was up 7.6% compared with the same four-week period last year

NN: A serous drop in inventors. And a lot o refiners are still off line for maintaince. Operating at only 88% of capacity.

Precious metals extended their losses on Monday, with gold falling by more than 3% to slip below the $4,000 mark as investors digested the news that the United States and China had reached a consensus on some crucial trade issues during their negotiations in Kuala Lumpur, Malaysia. US President Donald Trump also revealed that his Chinese counterpart Xi Jinping gave a “provisional approval” of the TikTok deal signed in September, which boosted traders’ optimism about the relationship between the two leaders. Gold dropped by 3.01% to $3,986.48 per ounce at 10:56 am ET, while silver fell by 4.78% to $46.25 per ounce a minute later. Platinum dipped by 1.17% and went for $1,602.23 per ounce at 10:57 am ET, and palladium declined by 1.87% at 10:58 am ET, going for $1,399.51 per ounce

Ukrainian President Volodymyr Zelensky stated on Monday that Russia’s oil refining is already paying a “tangible” price, vowing his country would continue to strike facilities deep inside Russia. “We set tasks to expand the geography for the use of our long-range capabilities,” Zelensky wrote on X. “We are working closely with manufacturers on long-term contracts. The three-year term allows manufacturers to better plan the use of necessary resources and scale up supplies to the military. The number of such contracts will grow,” he added. Earlier today, Zelensky revealed Kiev and its allies are preparing a plan for a ceasefire with Russia. He also reiterated that his country needs long-range weapons to increase pressure on Moscow.

NN: Your about to see a serious escalation in this war, The next to go is Russian oil

Senior United States officials called on Israel to refrain from overreacting in case Hamas violates the ceasefire, as “the next 30 days of the ceasefire agreement are crucial,” The Times of Israel reported on Sunday, citing an Israeli source familiar with the matter. The source said that several top US officials, including Vice President JD Vance and Secretary of State Marco Rubio, visited Israel last week to make sure that the Gaza ceasefire holds. Additionally, the source ensured that US Special Envoy to the Middle East Steve Witkoff and President Donald Trump’s son-in-law Jared Kushner warned Israel not to “act in a way that would endanger the ceasefire” as the US wants “to do everything to reach the second phase.”

NN: Its only a matter of time

Russian President Vladimir Putin warned on Thursday that new US sanctions targeting Rosneft, Lukoil, and their subsidiaries could drive up global fuel prices, including in the United States. He questioned the motives of advisers within the Trump administration who, he suggested, are influencing President Donald Trump’s decisions on restricting Russian oil exports. Putin added that such measures could have “sensitive” consequences given the US political calendar. At the same time, the Russian leader expressed hope that the sanctions will not significantly affect the global energy market. The Russian leader also said that time is needed to arrange a meeting with Trump, stressing that it would be a “mistake” for both sides to hold talks without proper preparation and concrete results.

United States Treasury Secretary Scott Bessent spoke to reporters on Wednesday, revealing that there will be a “substantial pick-up” in sanctions against Russia. “We are going to announce [them] either after the close this afternoon or first thing tomorrow morning,” he detailed. Bessent’s comments come on the heels of a Wall Street Journal report, which claimed that Washington gave Ukraine a green light to use Western-made long-range missiles and strike Russian territory. While US President Donald Trump and Russian President Vladimir Putin were supposedly looking to meet in person in Budapest in the near future, it remains unclear if the summit will take place any time soon.

The Trump administration has removed a “key restriction” on Ukraine’s use of Western-made long-range missiles in its attacks against Russia, the Wall Street Journal reported on Wednesday, citing United States officials. According to the report, Washington’s decision to lift the restriction on Kiev’s use of British-supplied Storm Shadow cruise missiles came before Ukrainian President Volodomyr Zelensky visited the White House last week, reportedly aiming to convince US President Donald Trump to provide him with Tomahawks. The lifting of restrictions allowed Ukraine to attack a chemical plant in southern Russia’s Bryansk region using Storm Shadow missiles. Although the missiles are Franco-British, the United States has the power to restrict Kiev’s use of Storm Shadow due to its use of American targeting information. The report noted that the US officials expect Ukraine to carry out more cross-border attacks using these missiles, which have a range of over 180 miles.

NN: game on….  oil is soaring