Global reserves of oil and petroleum products continue to fall In the week to October 16, oil inventories in key regions of the world (commercial stocks in the US, Japan and the Amsterdam-Rotterdam-Antwerp center) fell 1.8% n/a and fell below the five-year seasonal average for the first time since late July. At the same time, the strategic reserves are also reduced. According to the US Department of Energy, the Strategic Petroleum Reserve (SPR) fell to 282.6 million barrels during the week from 283.7 million barrels the previous week, reaching a new low since 1982. Comparable inventories of petroleum products in the reporting period fell by a flat 1.1%, but here the gap with the five-year seasonal average turned out to be deeper. Total reserves of oil and petroleum products fell 1.4% during the reporting period, approaching a seasonal low, Bloomberg writes, citing the US Department of Energy, Vortexa, FEDCom/Platts and Genscape. The Houthi attacks on Saudi Arabia and Yemen continue to threaten the energy infrastructure of the region and therefore the export of energy from the Middle East.

Global reserves of oil and petroleum products continue to fall In the week to October 16, oil inventories in key regions of the world (commercial stocks in the US, Japan and the Amsterdam-Rotterdam-Antwerp center) fell 1.8% n/a and fell below the five-year seasonal average for the first time since late July. At the same time, the strategic reserves are also reduced. According to the US Department of Energy, the Strategic Petroleum Reserve (SPR) fell to 282.6 million barrels during the week from 283.7 million barrels the previous week, reaching a new low since 1982. Comparable inventories of petroleum products in the reporting period fell by a flat 1.1%, but here the gap with the five-year seasonal average turned out to be deeper. Total reserves of oil and petroleum products fell 1.4% during the reporting period, approaching a seasonal low, Bloomberg writes, citing the US Department of Energy, Vortexa, FEDCom/Platts and Genscape. The Houthi attacks on Saudi Arabia and Yemen continue to threaten the energy infrastructure of the region and therefore the export of energy from the Middle East.