EIA Data Show Continued U.S. Crude Inventory Draws as Strait Uncertainty Persists

U.S. crude inventories continued to decline, with both delivery-point inventories and Strategic Petroleum Reserve stocks also falling. According to Jin10, the flow of crude oil through the strait has been recovering, but shipping freight rates have not returned to normal. The report added that ongoing differences between the United States and Iran have kept the strait’s outlook uncertain.