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• U.S. Crude Oil Inventories See Surprise Draw
  Crude oil inventories in the United States fell this week by 3.104 million...
  Crude oil inventories in the United States fell this week by 3.104 million barrels for the week ending May 3, according to The American Petroleum Institute (API). Analysts had expected a 1 million barrel build.
  
  Gasoline inventories fell this week by 1.269 million barrels, countering last week’s 1.46 million barrel build. As of last week, gasoline inventories were about 2% below the five-year average for this time of year, according to the latest EIA data.
  
  Cushing inventories saw a draw this week falling 601,000 barrels after increasing by 1.339 million barrels in the previous week.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery ...
  Benchmark U.S. crude oil for June delivery fell $1.10 to $78.02 per barrel Tuesday. Brent crude for July delivery fell 98 cents to $82.38 per barrel.
  
  Wholesale gasoline for June delivery fell 5 cents to $2.46 a gallon. June heating oil fell 2 cents to $2.42 a gallon. June natural gas fell 4 cents to $2.34 per 1,000 cubic feet.
  
  
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• Nasdaq posts record close as stocks log gains ahead of key inflation reading →
  U.S. stocks finished higher on Tuesday, with the Nasdaq Composite notching...
  U.S. stocks finished higher on Tuesday, with the Nasdaq Composite notching its seventh all-time closing high of 2024 as investors await the release of an April consumer-price index report that may shed more light on the Federal Reserve’s path for interest rates.
  
  The Nasdaq Composite advanced 122.94 points, 0.8%, to end at a record 16,511.18, according to Dow Jones Market Data.
  
  The S&P 500 rose 25.26 points, or 0.5%, to finish at 5,246.68, its highest close since late March. The large-cap index also ended within 0.2% of its all-time record close of 5254.35, hit on March 28.
  
  The Dow Jones Industrial Average was up 126.60 points, or 0.3%, ending at 39,558.11.
  
  Attention now turns to Wednesday's consumer-price index, set for release at 8:30 a.m. Eastern time.
  
  Economists polled by Dow Jones anticipated the annual headline CPI rate for April will come in at 3.4%. Core CPI, which strips out volatile food and energy prices, is expected to slow to a 3.6% annual pace, from 3.8% in March.
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• From Twitter : Gasoline Prices to Drop Before Memorial Weekend.
  Gasoline prices in the United States...
  
  

  Gasoline prices in the United States are expected to see a slight drop of up to 10 cents per gallon by Memorial Day weekend, Patrick De Haan, head of petroleum analysis at GasBuddy, said on Tuesday.https://t.co/0TNDzJ5ykt

  
  — OilPrice.com (@OilandEnergy) May 14, 2024

  
  
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• Demand for CME WTI crude grade futures hit fresh high
  Demand for CME's WTI crude grade futures has hit a fresh high, recording...
  Demand for CME's WTI crude grade futures has hit a fresh high, recording an average daily volume of 17,800 in April, a 54% increase from the same month last year. The group also reported a record daily open interest of 621,000 lots in the WTI crude grade contracts, up 45% from April 2023.
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