WTI Brent Futures Mixed, despite inventories drop


   
    

   HOUSTON (DTN) ---West Texas Intermediate futures closest to expiration on 
the New York Mercantile Exchange and Brent crude on the Intercontinental 
Exchange were mixed Wednesday following a fall of crude inventories reported by 
the Energy Information Administration's Weekly Petroleum Status report. 

   The EIA said commercial crude oil inventories in the U.S. fell 1.8 million 
barrels in the week ending Nov. 22, which contrast with the 5.935 million bbl 
drop reported by the American Petroleum Institute Tuesday.

   Both gasoline and distillate fuel inventories rose from the previous week, 
due to higher demand expectations ahead of the Thanksgiving holiday week, 
adding 212,000 bbls and 114,700 bbls last week, respectively.

   Crude oil throughput averaged 13.5mn bpd in the week ending Nov. 22, an 
increase of 292,000 bpd from the previous week. Refinery runs were at 90.5% 
capacity last week, slightly up from the week ending Nov. 15, but 1% above 
rates recorded during the same week of last year.

   Distillate fuel oil supplies totaled 3.79 million bpd of distillate, down 
58,000 bpd on the week, according to EIA data.

   Near 3:00 PM ET, WTI futures for January delivery was flat at $68.76 bbl, 
while Brent futures contract for January delivery was slightly up $0.08 bbl to 
$72.89 bbl.

   Front month ULSD was down $0.0364 gal to $2.2040, while RBOB for December 
delivery edged down $0.0364 gal to $1.9742.

    




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