FINWIRES · TerminalLIVE
FINWIRES

Update: Weekly US Crude Inventories Drop by 6.2 Million Barrels, EIA Says

By

-- US crude stockpiles dropped by 6.2 million barrels to 459.5 mmbbls in the week ended April 24, the Energy Information Administration said in its weekly report on Wednesday.

Crude inventories are now about 1% above the five-year average for this time of year, the EIA said.

Crude oil input to refineries increased by 85,000 barrels per day from the previous week to average 16.1 mmb/d in the week ending April 24. Crude oil production rose by 1,000 b/d to average 13.5 mmb/d.

Commercial crude imports decreased by 329,000 b/d to average about 5.8 mmb/d. Total motor gasoline stockpiles decreased by 6.1 mmbbls from last week to 222.3 mmbbls, and distillate stocks dropped by 4.5 mmbbls to 103.6 mmbbls, the agency said.

Related Articles

Research

Research Alert: CFRA Retains Hold View On Shares Of Incyte Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After Q1 earnings, we keep our target at $102, 11.8x our projected 2027 EPS forecast, below its five-year historical forward P/E average of 17.0x. We adjust our 2026 EPS estimate to $7.83 from $7.94 and our 2027 EPS view to $8.64 from $8.36. INCY reported a solid start to 2026, beating expectations on both revenue and earnings, led by robust, double-digit growth across its commercial portfolio. We think the company is going through a strategic transition beyond its cornerstone product, Jakafi, toward a diversified portfolio in hematology, oncology, and immunology, supported by a maturing late-stage pipeline and key management appointments. INCY announced the appointments of Suketu Upadhyay (the current CFO of ZBH) as its new CFO, effective May 4, and a new Head of U.S. Commercial, Mohamed Issa. While we see some execution risks ahead, we believe INCY could be at an inflection point with four new product launches in the next year and the advancement of the 10 Phase 3 studies while filling key leadership roles.

$INCY
Australia

GSK's Linerixibat Gets UK Nod for Itch Linked to Biliary Disease

GSK's (GSK) Linerixibat, to be marketed as Lynavoy, has been approved by the UK's Medicines and Healthcare products Regulatory Agency for the treatment of itching in adults with primary biliary cholangitis, the agency said Friday.The oral therapy aims to reduce bile acid buildup linked to the rare liver disease, which can cause persistent itching, the agency said.The approval was supported by phase 3 data showing Linerixibat significantly reduced itching and improved sleep disruption compared with placebo, it added.Shares of GSK were down 1.2% in Friday trading.Price: $52.01, Change: $-0.30, Percent Change: -0.57%

$GSK
International

ISM US Manufacturing Index Indicates Steady Expansion in April

The Institute for Supply Management's US manufacturing index was unchanged in April from the 52.7 reading in March, below the expectations for a 53.2 reading in a survey compiled by Bloomberg as of 7:40 am ET.There were gains in the readings for new orders and prices, but declines in production, employment and order backlogs.Other regional manufacturing sector readings have been generally positive, with exception of the Dallas and Chicago regions.The monthly national manufacturing reading from the Institute for Supply Management is reported as a headline index, with readings above 50 indicating expansion and those below 50 indicating contraction. Component indexes measure new orders, production, employment, and prices.An increase in the index further above 50 is considered a sign of a strong US manufacturing sector, generally a positive for manufacturing industry stocks. However, if that strength comes with rising input prices due to shortages, that could be a negative for stocks as well as bonds.