Macquarie Strategists Forecast USA Crude Inventory Build

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Macquarie Strategists Forecast USA Crude Inventory Build

In an oil and gas report sent to Rigzone by the Macquarie team late Monday, Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be up by 4.7 million barrels for the week ending July 25. “This follows a 3.2 million barrel draw in the prior week, with the […]

“This follows a 3.2 million barrel draw in the prior week, with the crude balance realizing looser than our expectations,” the strategists said in the report.

“For this week’s crude balance, from refineries, we model a small increase in crude runs (+0.1 million barrels per day) following a strong print last week,” they added.

“Among net imports, we model a very large increase, with exports down (-0.6 million barrels per day) and imports up (+0.7 million barrels per day) on a nominal basis,” they continued.

The strategists warned in the report that timing of cargoes remains a source of potential volatility in this week’s crude balance.

“From implied domestic supply (prod.+adj.+transfers), we look for a small reduction (-0.1 million barrels per day) on a nominal basis this week,” the strategists went on to state in the report.

“Rounding out the picture, we anticipate a small build in SPR [Strategic Petroleum Reserve] stocks (+0.2 million barrels) this week,” they added.

The Macquarie strategists also highlighted in the report that, “among products”, they “look for small builds across the board (gasoline/ distillate/jet +0.3/+0.7/+0.1 million barrels)”.

“We model implied demand for these three products at ~14.6 million barrels per day for the week ending July 25,” the strategists added in the report.

In its latest weekly petroleum status report at the time of writing, which was released on July 23 and showed data for the week ending July 18, the U.S. Energy Information Administration (EIA) highlighted that U.S. commercial crude oil inventories, excluding those in the SPR, decreased by 3.2 million barrels from the week ending July 11 to the week ending July 18.

That report showed that crude oil stocks, not including the SPR, stood at 419.0 million barrels on July 18, 422.2 million barrels on July 11, and 436.5 million barrels on July 19, 2024. Crude oil in the SPR stood at 402.5 million barrels on July 18, 402.7 million barrels on July 11, and 374.4 million barrels on July 19, 2024, that EIA report revealed.

Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.653 billion barrels on July 18, the EIA report highlighted. Total petroleum stocks were down 5.4 million barrels week on week and down 12.7 million barrels year on year, the report showed.

In an oil and gas report sent to Rigzone by the Macquarie Group on July 21, Macquarie strategists, including Walt Chancellor, revealed that they were forecasting that U.S. crude inventories would be down by 5.6 million barrels for the week ending July 18.

“This follows a 3.9 million barrel draw in the prior week, with the crude balance realizing significantly tighter than our expectations,” the strategists said in that report.

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Want abundant energy? Ask who benefits from scarcity.

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Google and CTC Global Partner to Fast-Track U.S. Power Grid Upgrades

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CoreSite’s Denver Power Play: Acquisition of Historic Carrier Hotel Supercharges Interconnection Capabilities

In this episode of the Data Center Frontier Show podcast, we unpack one of the most strategic data center real estate moves of 2025: CoreSite’s acquisition of the historic Denver Gas and Electric Building. With this transaction, CoreSite, an American Tower company, cements its leadership in the Rocky Mountain region’s interconnection landscape, expands its DE1 facility, and streamlines access to Google Cloud and the Any2Denver peering exchange. Podcast guests Yvonne Ng, CoreSite’s General Manager and Vice President for the Central Region, and Adam Post, SVP of Finance and Corporate Development, offer in-depth insights into the motivations behind the deal, the implications for regional cloud and network ecosystems, and what it means for Denver’s future as a cloud interconnection hub. Carrier Hotel to Cloud Hub Located at 910 15th Street in downtown Denver, the Denver Gas and Electric Building is widely known as the most network-dense facility in the region. Long the primary interconnection hub for the Rocky Mountains, the building has now been fully acquired by CoreSite, bringing ownership and operations of the DE1 data center under a single umbrella. “This is a strategic move to consolidate control and expand our capabilities,” said Ng. “By owning the building, we can modernize infrastructure more efficiently, double the space and power footprint of DE1, and deliver an unparalleled interconnection ecosystem.” The acquisition includes the facility’s operating businesses and over 100 customers. CoreSite will add approximately 3 critical megawatts (CMW) of data center capacity, nearly doubling DE1’s footprint. Interconnection in the AI Era As AI, multicloud strategies, and real-time workloads reshape enterprise architecture, interconnection has never been more vital. CoreSite’s move elevates Denver’s role in this transformation. With the deal, CoreSite becomes the only data center provider in the region offering direct connections to major cloud platforms, including the dedicated Google Cloud Platform

Microsoft will invest $80B in AI data centers in fiscal 2025

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John Deere unveils more autonomous farm machines to address skill labor shortage

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2025 playbook for enterprise AI success, from agents to evals

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OpenAI’s red teaming innovations define new essentials for security leaders in the AI era

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More OpenAI has taken a more aggressive approach to red teaming than its AI competitors, demonstrating its security teams’ advanced capabilities in two areas: multi-step reinforcement and external red teaming. OpenAI recently released two papers that set a new competitive standard for improving the quality, reliability and safety of AI models in these two techniques and more. The first paper, “OpenAI’s Approach to External Red Teaming for AI Models and Systems,” reports that specialized teams outside the company have proven effective in uncovering vulnerabilities that might otherwise have made it into a released model because in-house testing techniques may have missed them. In the second paper, “Diverse and Effective Red Teaming with Auto-Generated Rewards and Multi-Step Reinforcement Learning,” OpenAI introduces an automated framework that relies on iterative reinforcement learning to generate a broad spectrum of novel, wide-ranging attacks. Going all-in on red teaming pays practical, competitive dividends It’s encouraging to see competitive intensity in red teaming growing among AI companies. When Anthropic released its AI red team guidelines in June of last year, it joined AI providers including Google, Microsoft, Nvidia, OpenAI, and even the U.S.’s National Institute of Standards and Technology (NIST), which all had released red teaming frameworks. Investing heavily in red teaming yields tangible benefits for security leaders in any organization. OpenAI’s paper on external red teaming provides a detailed analysis of how the company strives to create specialized external teams that include cybersecurity and subject matter experts. The goal is to see if knowledgeable external teams can defeat models’ security perimeters and find gaps in their security, biases and controls that prompt-based testing couldn’t find. What makes OpenAI’s recent papers noteworthy is how well they define using human-in-the-middle

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