Mexican mix picks up due to sharp decline in US stocks



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The Mexican blend for export had a profit of $ 1.60, compared to the previous day, setting its selling price at $ 66.93 a barrel, reported Petróleos Mexicanos ( Pemex ).

According to Banco Base the oil ended the session with gains, which were fueled by the publication of the weekly report of the energy sector of the Energy Information Administration ( EIA )) of the United States.

The West Texas Intermediate crude oil contract ( WTI ) for delivery in August recorded an advance of $ 2.23 and remains at $ 72.76 per barrel, while the Brent with expiration in The same month earned 1.31 dollars to bid at 77.62 dollars.

The EIA reported that US crude stocks dropped 9.891 million barrels at the end of June 22, placing the level of commercial energy stocks at 416.636 million barrels, its lowest level since 19 January this year.

In the past three weeks, US crude oil inventories have been reduced by almost 20 million barrels.

Among the factors that influenced the lowest oil accumulation, extraction levels were maintained for the third consecutive week at 10.9 million barrels per day, which is corroborated by the number of platforms in operation at the end of the previous week which remained on average in the 862 units in operation in the same period.

Stable levels of crude output boosted demand for crude oil from abroad for the second week in a row. On this occasion, oil imports increased by 114,000 barrels, to reach 8,356 million daily units.

EIA said Mexico was one of its main sources of energy, increasing its export platform to 1.152 million barrels a day, placing itself just below Canada, facing the supply problems of US refineries.

In fact, another factor that drove up prices was that the Syncrude oil sands treatment plant in Canada would be paralyzed in July because of a power outage. , which would reduce the flow of oil to the Cushing, Oklahoma distribution center.

It is important to mention that the reduction in inventories was due to an increase in internal and external consumption of crude oil.

According to the EIA, the use of refineries in this country increased by 0.8 percentage points, reaching a utilization rate of 97.5 percent during the previous week, which resulted in the entry of Refinery crude oil will increase by 117,000 barrels per day to reach a new record of 17.82 million barrels per day.

On the other hand, the US crude exports rose 626,000 barrels a day to reach three million units a day, a new historical maximum of. export, which was the main factor that slowed excess supply in the United States.

Prepared with information from Notimex and Reuters

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