US commercial crude oil inventories increased by 3 million barrels to 426.4 mmbbls in the week ended Sept. 18, the Energy Information Administration said in its weekly report released Wednesday.
Crude inventories are 2% above the five-year average, the EIA said. The build is significantly higher than Investing.com's estimate of a 700,000-barrel-per-day draw for the week ended Sept.18.
The Securities and Exchange Board of India (SEBI) has settled adjudication proceedings against five Adani Group companies, which paid a total of 15.1 million Indian rupees for alleged violations related to the disclosure of related-party transactions and audit and limited review reports.The settlement follows an examination by the Indian capital markets regulator into allegations and corporate governance issues highlighted in a January 2023 report of Hindenburg Research, including possible violations of listing regulations and the erstwhile listing agreement.Under the terms of the settlement, Adani Enterprises (NSE:ADANIENT, BOM:512599) paid 7.6 million rupees, while Adani Green Energy (NSE:ADANIGREEN, BOM:541450) paid 4.6 million rupees, and Adani Total Gas (NSE:ATGL, BOM:542066), AWL Agri Business (NSE:AWL, BOM:543458) and Adani Energy Solutions (NSE:ADANIENSOL, BOM:539254) paid 975,000 rupees each.The companies settled the cases without admitting or denying the findings of fact or conclusions of law.
US electricity markets saw significant price swings, with locational marginal prices varying widely across regions as power demand shifted.ISO New England led the markets at 5 p.m. ET with a locational marginal price of $34.71 per megawatt-hour, compared with $22.39/MWh for Midcontinent Independent System Operator, which posted the lowest price at that hour.For intraday peaks, PJM Interconnection reached $85.08/MWh at 8:15 a.m. ET, while ISONE recorded the lowest LMP in the negative territory at -$0.45/MWh at 11 a.m. ET.The National Weather Service's Climate Prediction Center forecasts above-normal temperatures across most of the US from Sept. 30-Oct. 6, with near-normal readings in parts of the West.
Data from the American Petroleum Institute revealed Tuesday that US crude oil inventories increased by1.79 million barrels in the week ended Sept. 23, following a 7.14-mmbbl build the previous week, and compared with analysts' estimate of a 500,000-bbl decline, according to a Bloomberg-compiled survey.The oil market now awaits the US Energy Information Administration's petroleum inventory report, scheduled for release on Wednesday.