Posted on

EIA Weekly Petroleum Report

EIA petroleum report for the week ending May 23, 2025

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.8 million barrels from the previous week. At 440.4 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 16.3 million barrels per day during the week ending May 23, 2025, which was 162 thousand barrels per day less than the previous week’s average. Refineries operated at 90.2% of their operable capacity last week. Gasoline production increased last week, averaging 9.8 million barrels per day. Distillate fuel production increased by 100 thousand barrels per day last week, averaging 4.8 million barrels per day. U.S. crude oil imports averaged 6.4 million barrels per day last week, increased by 262 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6 million barrels per day, 10.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 755 thousand barrels per day, and distillate fuel imports averaged 114 thousand barrels per day. Total motor gasoline
inventories decreased by 2.4 million barrels from last week and are about 3% below the five year average for this time of year. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 0.7 million barrels last week and are about 17% below the five year average for this time of year. Propane/propylene inventories increased by 2 million barrels from last week and are 4% below the five year average for this time of year. Total commercial petroleum inventories decreased by 0.7 million barrels last week. Total products supplied over the last four-week period averaged 19.9 million barrels a day, down by 0.2% from the same period last year. Over the past four weeks, motor gasoline product
supplied averaged 8.9 million barrels a day, down by 1.5% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 2.6% from the same period last year. Jet fuel product supplied was up 5.3 % compared with the same four-week period last year

Posted on

Israel’s laser defense shot down dozens of aerial threats

In a historic breakthrough, the IDF on Wednesday announced that an unnamed laser defense system similar to the much celebrated Iron Beam laser system has shot down dozens of aerial threats during the war. According to the Defense Ministry, the Iron Beam and a related family of laser defense systems, produced by Rafael Advanced Defense Systems, are the most advanced and operational lasers in the world, though England, the US, and others also have relatively advanced laser platforms. Sources have told the Post that what makes the Iron Beam the most advanced is its reliability in different kinds of weather, variable range, adaptability to different kinds of aerial threats, and the ability to place it in different contexts. Other sources said that they could not reveal the name of the sister-laser system to the Iron Beam, whose progress was being publicly revealed on Wednesday.

The implication was that the Lite Beam would be effective against drones and possibly against mortars but would not shoot down most rockets or long-range missiles, which Israel eventually hopes the Iron Beam will do. In general, laser defense technologies are viewed as a major part of future air defense because they would end the arms cost race in which Israel and other wealthy countries constantly waste huge amounts of money to protect themselves from weaker adversaries using cheap, low attack forms of threats. The sources added that the Lite Beam has hard kill neutralization capabilities, which can be integrated on any vehicular platform and operational capabilities, and that it can also be a component of the drone dome, which utilizes both soft kill and jamming. Rafael said that the Lite Beam “offers advantages such as engagement at the speed of light, an unlimited magazine, and negligible cost per interception.” On Wednesday, Gold said, “Our vision for deploying laser weapons was realized during the war with tremendous technological and operational success. IDF combat units displayed boldness in integrating and carrying out the first successful operational deployments of the systems, and the lessons learned will be applied as we deploy more operational laser systems. “Laser interception systems will provide an additional layer within Israel’s multi-tiered air defense array, which has been meticulously developed through the tireless efforts of the defense industries and Israel’s exceptional human capital. We will continue to advance this technology and deliver world-leading systems and capabilities to the IDF, turning vision into security in air, sea, land, and across every dimension.” Head of the Defense Ministry’s Directorate of Research and Development Brig.-Gen. Yehuda Elmakayes stated, “During the war, we deployed several high-power laser system prototypes, resulting in significant achievements, culminating in the world’s first successful high-power laser interceptions on the battlefield. “Throughout this period, we gained substantial experience in optimizing and operating laser technologies in the field. We are currently integrating these insights into the systems under development while expanding the range of laser-based systems to protect Israeli civilians and IDF forces.” In addition, lasers are generally, for now, thought of as defending against short- and medium-range threats, not ballistic missiles, which are generally shot down much farther away from a country’s defense line. For example, Israel’s Arrow 3 missile system shoots down ballistic missiles up in Earth’s atmosphere, a much greater distance to achieve for a laser to remain effective at destroying an object.

Posted on

Crude Oil Prices Rise After US Court Blocks Trump’s Tariffs

  • A U.S. trade court ruled President Trump exceeded his authority by imposing tariffs, reinforcing congressional control over trade.

  • Oil prices rose over 1% as traders welcomed the ruling and bullish signals from demand forecasts countering glut concerns.

  • Analysts remain cautious due to expected OPEC+ supply increases and the limited impact of new U.S. sanctions on Russian oil.

A U.S. trade court on Thursday blocked the tariffs that President Trump has imposed on U.S. trade partners, saying the president overstepped his authority. The news pushed oil prices higher earlier today even as the market awaits bearish news from OPEC+. “The court does not pass upon the wisdom or likely effectiveness of the President’s use of tariffs as leverage,” the Court of International Trade’s three-member panel wrote in its ruling that imposes a permanent injunction on all the tariffs that Trump has announced since taking office. “That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it,” the judges said, as quoted by Reuters. They noted that Congress and not the president has exclusive authority over trade relations with other countries, and presidential emergency powers cannot override this authority.

Following the news, Brent crude and West Texas Intermediate rose by over 1%, with Brent trading at $65.68 per barrel at the time of writing, and WTI changing hands for $62.63 per barrel. The court’s ruling has given traders a bit of a breather, analysts commented, and reason for a more optimistic outlook on oil demand—supported by data suggesting all the forecasts of a glut may have been premature.

Rystad Energy challenged the assumption of a glut, saying that market balance data actually suggested demand was stronger than supply growth. “From May through August, the data points to a constructive, bullish bias with liquids demand set to outpace supply,” analyst Mukesh Sahdev said, as quoted by Reuters. He expects demand to exceed supply growth by between 600,000 bpd and 700,000 bpd.

NN: i stand on my wok as an analyst  that oil is a screaming buy
Posted on

US oil inventories down by 4.2M barrels

Crude oil inventories in the United States decreased by 4.2 million barrels in the week that ended May 23, private data from the American Petroleum Institute (API)  revealed on Wednesday. In the reported week, distillate inventories repo   increased by 1.3 million barrels, while gasoline stockpiles fell by 528,000 barrels. Meanwhile, reserves in Cushing, Oklahoma, allegedly slipped by 342,000 barrels during the same week.

Posted on

And Oil adds another 1.5% as US court blocks Trump tariffs

Crude prices increased on Thursday following the US Court of International Trade’s decision to prevent the majority of President Donald Trump’s tariffs from being implemented. Markets also monitored possible new US restrictions on Russian oil exports, while OPEC+ is expected to hike production starting in July during its meeting this Saturday. West Texas Intermediate (WTI) for deliveries in July jumped by 1.70% at 2:31 am ET to sell for $62.89 per barrel. A minute later, Brent for settlements in July added 1.59% to go for $65.93 per barrel.

nn: this is a big awh shit
Posted on

WTI up over 2.5% following OPEC+ Decision To NOT Cut Production

told you so!!

Crude oil prices rose by over 2% on Wednesday after reports  that the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, decided to maintain its oil output baselines unchanged until 2027. Additionally, it was reported that further negotiations on setting country-specific baselines are expected to take place in November.West Texas Intermediate (WTI) for deliveries in July climbed by 2.63% at 11:45 am ET, going for $62.46 per barrel, while Brent for settlements in July gained 2.37% at the same time and sold for $65.47 per barrel.

NN: i kept telling you no way an OPEC stand prices this low

 

Posted on

Oil Supply Risks Iranian, Russian Supplies

Oil climbed as the market assessed the risk of additional US sanctions on Russia and the chance that nuclear talks with Iran would fail to produce an agreement. West Texas Intermediate climbed more than 1% to approach $62 a barrel after President Donald Trump said Russian President Vladimir Putin was “playing with fire” by escalating attacks on Ukraine. The US is weighing additional sanctions on the country after aggressive measures against Russia’s oil industry earlier this year sent crude rallying past $80 a barrel. Elsewhere, the New York Times reported that Israeli Prime Minister Benjamin Netanyahu is pressing on with threats to disrupt talks between Washington and Tehran by striking the Iran’s nuclear facilities. A wrong turn in the negotiations stands to crimp flows from the OPEC member.

Still, bearish forces loom in the background. OPEC+ is gathering online to review production quotas for this year and next, before eight key members decide over the weekend whether to bolster output again in July. Members held preliminary talks last week on making a large production hike for a third consecutive month, according to delegates. The ramp-up of idled production by OPEC and its allies has stoked fears about oversupply and added to the pressure on prices. Parts of the futures curve for Brent are in contango — a bearish structure that signals ample supply. Oil has trended lower since mid-January, with sweeping tariffs from the Trump administration and retaliatory measures from targeted countries raising concerns of an economic slowdown. However, there has been some signs recently of easing trade tensions.

Posted on

Netanyahu: Iran is responsible for Yemen attacks……. Trump, Netanyahu said to have had ‘tense’ call on Iran

Israeli Prime Minister Benjamin Netanyahu commented on Wednesday on his country’s Air Force attacking the airport in Yemen’s capital, Sanaa, which Israel claimed is controlled by Houthis, and stated that Iran is responsible for the attacks coming from Yemen. “The Air Force has now attacked again the airport in Sana’a, which is controlled by the Houthi terrorist regime in Yemen. We operate according to a simple principle: Whoever harms us – we will harm him. Whoever does not understand this by force – will understand this with even greater force,” Netanyahu said in a post on X, adding that Houthis are just “the symptom,” and that Iran is “the main force” behind “the aggression emanating from Yemen.” Israeli Defense Minister Israel Katz previously said that anyone who harms his country will be harmed “sevenfold,” calling the attacks on the Yemeni airport “a clear message” that is in line with Israel’s policy.

Trump, Netanyahu said to have had ‘tense’ call on Iran

Israel has been continuing to insist on a military action against Iran in recent days, as it remains concerned about the latter’s nuclear program and whether the United States will be able to strike an agreement with Tehran, the New York Times reported on Wednesday, citing sources with knowledge of the matter. According to the sources, disagreements on how best to deal with the situation led to “at least one tense phone call” between US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, as well as a series of meetings between top officials from both sides.Sources familiar with the US-Iran negotiations revealed that, at best, some common principles would be declared, with the details under discussion still unknown.

Posted on

Trump said to warn Netanyahu against thwarting Iran talks

United States President Donald Trump warned Israel’s Prime Minister Benjamin Netanyahu against taking any steps that could obstruct nuclear negotiations with Iran, Axios reported on Tuesday, citing a White House official and another source with knowledge of the matter, after Israel’s Channel 12 released a similar report the day before. In a phone call last Thursday, Trump told Netanyahu that he does not “want anything to impede” a diplomatic solution with Tehran, warning the Israeli leader that he “doesn’t want him to antagonize at a time when he is trying to solve problems,” according to the White House official. The sources added that the US president told Netanyahu that the “other option” is on the table, referring to a potential attack on Iran, but first wants to try to reach a diplomatic solution.