- Gasoline futures in the US fell to $2.05 per gallon from the over one-month high of $2.15 as crude oil supply concerns eased for refineries.
- Data from the EIA showed that crude oil stocks surged by nearly 6 million barrels on the week ending October 4th, nearly three times the expected build.
- The pullback for futures was also owed to skepticism that the Chinese fiscal stimulus signaled by Beijing would be enough to lift fuel demand.
- Lower energy demand in China was the culprit for the EIA to downwardly revise its global oil demand forecast this year by 300k bpd to 1.2 million bpd.
Natural Gas
Inventory build exceeds expectations, Hurricane Milton disrupts demand
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