US stocks opened higher across the board, with Alibaba rising 4.2%.
US stocks collectively opened higher, the Dow Jones up 0.25%, the Nasdaq up 0.93%, the S&P 500 up 0.65%, semiconductors and storage sectors continue to be strong, Micron up 2.15%, SanDisk up 1%, Western Digital up 2.6%, TSMC up 2%. Internet technology stocks broadly rose, Google up nearly 2%, Meta up 2.5%, Alibaba up 4.2%.
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U.S. crude oil inventories decline for the third consecutive week, while gasoline and distillate inventories increase; Venezuelan crude imports reach highest level in nearly 10 years
According to the EIA, for the week ending September 11, U.S. commercial crude oil inventories decreased by 640,000 barrels, which was less than the market expectation of 1.4 million barrels. Strategic Petroleum Reserve inventories fell by 403,000 barrels. Gasoline inventories increased by 794,000 barrels, while the market had expected a decrease of 800,000 barrels. Distillate fuel inventories rose by 1.6 million barrels, with the market expecting no change. Imports of Venezuelan crude oil reached nearly 800,000 barrels, the highest level since 2017.
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