Latest news with #stockpiles
South China Morning Post
3 days ago
- Business
- South China Morning Post
Japan lawmaker takes flak for calling rice stockpiles ‘animal feed'
Japan 's Democratic Party for the People head Yuichiro Tamaki has drawn the ire of social media users after he referred to the government's rice stockpiles as 'animal feed in a year'. Advertisement Tamaki is apparently referring to reserve rice from 2021 that the government plans to release to the public in an effort to curb soaring prices nationwide. The government of Prime Minister Shigeru Ishiba has sold stockpiled rice that has exceeded its five-year storage period as animal feed, but critics said Tamaki was politicising the rice shortage issue. During a parliamentary session on Wednesday, Tamaki, whose party has pitched policies aimed at garnering support from younger voters, said, 'Even if you say you're selling something that would end up as animal feed at a low price, it's not something people truly need.' 02:28 Japan to release emergency rice stocks as prices soar Japan to release emergency rice stocks as prices soar Farm Minister Shinjiro Koizumi, who has pledged to make the stockpiled rice available in stores at 2,000 yen (US$14) per 5kg, said, 'Even if that is true, such a remark is unfortunate, especially as we are working on the best way to release it.'
Bloomberg
21-05-2025
- Business
- Bloomberg
Oil Extends Drop as US Stockpile Build Amplifies Glut Concerns
Oil extended a decline as higher US crude stockpiles reinforced worries about an oversupplied market, with geopolitical concerns also in focus. West Texas Intermediate fell toward $61 a barrel after shedding almost 2% over the previous two sessions, with Brent crude closing below $65. Commercial inventories of crude rose for a second week, with gauges of both gasoline and distillate demand also weak — even as the summer driving season fast approaches.
Reuters
19-05-2025
- Business
- Reuters
US crude, product inventories likely down last week
May 19 (Reuters) - U.S. crude oil stockpiles likely fell last week, along with distillate and gasoline inventories, a preliminary Reuters poll found on Monday. Five analysts polled by Reuters, ahead of weekly inventory data, estimated that crude inventories fell on average by about 1.4 million barrels in the week to May 16. The poll was conducted ahead of weekly reports from the American Petroleum Institute at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, at 10:30 a.m. EDT (1430 GMT) on Wednesday. Crude inventories rose by 3.5 million barrels to 441.8 million barrels in the week ended May 9, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.1 million-barrel draw. Analysts estimated distillate inventories (USOILD=ECI), opens new tab, which include diesel and heating oil fell by about 1.4 million barrels last week, while gasoline stockpiles (USOILG=ECI), opens new tab, decreased by about 900,000 barrels. The rate of refinery utilization (USOIRU=ECI), opens new tab was estimated to have risen by 1 percentage points from the 90.2% of total capacity in the previous week, the poll found. All figures for stocks are in millions of barrels. Refinery rate changes are measured in percentage points.
Bloomberg
19-05-2025
- Business
- Bloomberg
Aluminum Slides as Surging Inventories Add to Downbeat Mood
Aluminum prices fell as a surge in exchange stockpiles exacerbated a risk-off mood seen in the wake of Moody's downgrade of US debt and mixed economic data from China. Readily available aluminum inventories in London Metal Exchange warehouses rose by 92,950 tons to 343,025 tons, the biggest jump in more than a year, data from the bourse show. The increase came as metal that had been ordered for withdrawal from warehouses in Malaysia was placed back on warrant.
Yahoo
14-05-2025
- Business
- Yahoo
Oil futures lower after API reports surprise jump in weekly US crude inventories
-- U.S. crude oil futures slipped below post-settlement levels Tuesday after the American Petroleum Institute reported a surprise jump in weekly domestic crude stockpiles. Crude Oil WTI Futures, the U.S. benchmark, recently traded at $63.64 a barrel following the report after settling up 2.8% at $63.67 a barrel. U.S. crude inventories rose by 4.3M barrels for the week ended May. 9, compared with a draw of 4.5M barrels reported by the API for the previous week and confounding expectations for a decline of 2.4M barrels. Gasoline stockpiles decreased by about 1.4M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by 3.7M barrels. The official government inventory report is due Wednesday at 10:30 a.m. ET (1530 GMT). Related articles Oil futures lower after API reports surprise jump in weekly US crude inventories What did we learn in previous OPEC price wars? U.S. and Russia reportedly in talks to resume Russian gas sales to Europe Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
