"The drop in product stocks is significant with refinery utilization up 2% to 90%", said James Williams, energy economist at WTRG Economics.
The Organization of the Petroleum Exporting Countries also said oil inventories across the most industrialized countries rose in January for the first time in eight months, a sign the impact of its output cuts may be waning. The IEA will release its monthly oil report Thursday. The move could have implications for United States sanctions on Iran, which could impact the latter's oil industry and exports, Facts Global Energy and Royal Bank of Canada warned. Looking at reactions in markets, crude oil prices fell following the EIA report. That compares with a 2.5-million-barrel gain forecast by analysts in a Bloomberg survey.
The oil price is still showing a 1% loss so far this week as concern grows about the ability of Opec and its partners to counter rapid growth in U.S. crude production, which is tipped to hit a record 11 million bpd before the end of the year.
Tran told Bloomberg, "we do think over the course of the year oil prices will likely march to the beat of its own drum - so from that perspective we do believe the backdrop for the oil market is actually looking quite constructive".
"Prices in the upper half of the oil price-band will encourage increased supply as USA production grows and countries reduce compliance with their production quotas", its senior vice-president Terry Marshall said.
Support on Wednesday came from a report that US crude inventories are not rising as much as expected during the spring season that is starting, implying healthy demand.
China is the second-largest aluminum exporter to the United States and is not among its top seven steel suppliers. Ginn said that approach badly undermines the administration's defense of the tax cuts.
By expanding his digital imprints to Instagram, Aamir Khan will be treating his fans with a sneak peek into his life. However, his co-star Amitabh Bachchan suffered from back pain because of the heavy costumes on Tuesday morning.
Twitch is leveling up its increasingly popular Twitch Prime subscription service, announcing today the start of a new program. One other note, which may be exciting if true, is that Free Games with Prime are unlocked for Twitch users "forever".
After reaching the peak of Super Bowl 50 two years ago, the Broncos have sunk on the heels of two playoff-less seasons. The Denver Broncos have apparently worked out their quarterback situation ahead of the official start of free agency.
Toys R Us has not spoken publicly about closing all its USA stores, and a spokeswoman declined to comment on that possibility. At stores that have announced that they are closing there are deep discounts, but shoppers said there are also restrictions.
The student's father Fermin Gonzales said he understands that it was an accident but said that "somebody could have died". Gonzales said Tuesday's incident changed his views about President Donald Trump's recent proposal to arm teachers .
Counting of votes in the Araria Lok Sabha seat, and Jehanabad and Bhabhua assembly constituencies was scheduled to begin at 8 am. In Jehanabad , the RJD hopes to retain the Assembly seat that fell vacant after the death of Mundrika Yadav.
Papa Murphy's: On March 14th, guests can order a large, thin crust, one-topping pizza for only $3.14 at participating locations . Locations not participating in Pi Day are Disney Springs, Houston Airport, UCLA, Staples Center, and George Mason University.
It is positive, as 38 investors sold BAX shares while 300 reduced holdings. 50 funds opened positions while 182 raised stakes. It improved, as 52 investors sold VNO shares while 118 reduced holdings. 29 funds opened positions while 77 raised stakes.
Acting CDC Director Anne Schuchat also tried to clear the air around what might have driven the disappearance of Dr. Now a $15,000 reward is being offered for anyone with information leading to an arrest or indictment.
Muslim group leader: Arrests of 3 men a relief
One of the tipsters told authorities the men talked about flinging the pipe bomb through the window of a mosque, documents show. Morris later complained to a confidential law enforcement source that the device had not gone off and that he had no idea why.
Duterte quits worldwide court over drugs war
In February, the ICC launched a preliminary inquiry into allegations of crimes against humanity committed by Duterte. However, the 72-year-old said that he is not planning to wait, and that the withdrawal would take place immediately.
Brand new Raspberry Pi 3 model arrives on Pi Day
According to Raspberry Pi, it's sold more than 9 million Raspberry Pi 3 units and a total of 19 million Raspberry Pis in total. As of now, the foundation has revealed no plans to discount or end production of the older models.