IEA: Oil Supply Losses From Hurricane Ida Reach 30 Million Barrels | OilPrice.com

IEA: Oil Supply Losses From Hurricane Ida Reach 30 Million Barrels | OilPrice.com

Oil Rallies With Depleting U.S. Inventory Signaling Tight Supply Oil Rallies With Depleting U.S. Inventory Signaling Tight Supply - Oops!Something went wrong.Please try again later. - Oops!Something went wrong.Please try again later. (Bloomberg) -- Oil jumped amid indications of a rapidly tightening market after a U.S. government report showed a bigger-than-expected decline in crude stockpiles. U.S. crude futures advanced as much as 3.8% in New York on Wednesday and global benchmark Brent crude topped $75 a barrel for the first time since early August. Domestic crude stockpiles tumbled to the lowest since September 2019 after losing over 6 million barrels That drop exceeded projections by the industry-funded American Petroleum Institute. The data follow the International Energy Agency’s warning that recent supply lost from storms in the Gulf have offset what …
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