NYMEX Oil Futures Tumble – DTN The Progressive Farmer
Unsurprisingly, the refining capacity utilization rate fell sharply last week, down 5.3% to 76.7%, also due to pre-hurricane shutdowns. The drop, however, was less than an expected drop of 11%.
Inventories of commercial crude oil in the United States fell for a sixth consecutive week to a 21-week low at 498.4 million barrels, the EIA said. The oversized draft of 9.4 million barrels of crude…