Crude Oil Inventories Drop Sharply, Exceeding Expectations
Corroborated by 3 sources from 3 publishers
TL;DR
U.S. Crude Oil Stockpiles Post Sixth Straight Weekly Drop Amid hopes for peace in the Middle East, Bart Melek, Head of Commodity Strategy with TD Securities, says even if a deal was struck today, constrained oil supplies through the Strait of Hormuz will likely keep oil prices elevated for some time.
Sources
1
Investing.com News
https://www.investing.com/news/economic-indicators/crude-oil-inventories-drop-sharply-exceeding-expectations-93CH-4724677
2
Dow Jones U.S. Business
https://www.wsj.com/business/energy-oil/u-s-crude-oil-stockpiles-post-sixth-straight-weekly-drop-fe2b9375?mod=pls_whats_news_us_business_f
3
Seeking Alpha Market News
https://seekingalpha.com/article/4911581-crude-reality-oil-prices-likely-to-remain-higher-for-longer?source=feed_all_articles