Cenovus, U.S. Crude Oil Stocks: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CRUDE OIL
U.S. Crude Oil, Fuel Stocks Decline - The U.S. Energy Information Administration reports that U.S. crude oil inventories fell by 5.1 million barrels in the week ending April 21 to 460.9 million barrels. Gasoline stocks fell by 2.4 million barrels to 221.1 million barrels. Distillate stockpiles fell by almost 600,000 barrels in the week to 111.5 million barrels, the EIA data showed. (Reuters)

NATURAL GAS
U.S. Gas Future Plunge 8% - U.S. natural gas futures plunged about 8% to a one-week low on Wednesday on a decline in the amount of gas flowing to U.S. liquefied natural gas export plants in recent days and the usual increase in volatility on contract expiration day. On its last day as the front-month, gas futures for May delivery on the New York Mercantile Exchange fell 19.0 cents, or 8.2%, to settle at $2.117 per million British thermal units, their lowest close since April 14. (Reuters)

EARNINGS REPORTS
Cenovus' Quarterly Profit More than Halves - Cenovus Energy Incorporated (NYSE:CVE) (Calgary, Alberta) on Wednesday reported its first-quarter profit fell by more than half from a year earlier, reflecting weaker crude oil prices and lower volumes in its U.S. refineries. Net income fell 61% to C$636 million ($466.45 million) in the quarter. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).