US Distillate Inventories Fell for the Ninth Time in 10 Weeks
The EIA estimates that US distillate inventories decreased by 3.1 MMbbls (million barrels) to 125.3 MMbbls on April 6–13, 2018.
US gasoline production increased 0.5% to 10,204,000 bpd on April 6–13, 2018. The production has increased by 410,000 bpd or 4.2% YoY.
The EIA reported that the US crude oil output rose by 15,000 bpd (barrels per day) to a record high of 10,540,000 bpd on April 6–13, 2018.
The EIA released its weekly crude oil inventory report on April 18, 2018. US crude oil inventories decreased by 1 MMbbls to 427.5 MMbbls on April 6–13.
May 2018 WTI oil futures contracts rose 2.9% to $68.47 per barrel on April 18, 2018—the highest settlement since December 1, 2014.
Recent market unrest has had a significant effect on precious metals and the US dollar, which influences dollar-denominated precious metals and mining stocks.
In this part of our series, we’ll look at the correlation between gold and four mining stocks: Franco-Nevada (FNV), Coeur Mining (CDE), Kinross Gold (KGC), and Eldorado Gold (EGO).
Precious metals had another up day as gold futures for April expiration rose 0.48% on Friday, April 13, closing at $1,344.80 per ounce.
Usually, precious-metal-mining companies follow precious metals.
Unrest in Syria played a role in precious metals rising on Friday, April 13.