U.S. crude inventories fell for a seventh straight week in the latest EIA report, the Strategic Petroleum Reserve also declined, and oil prices stayed tied to Strait of Hormuz disruption risk.
U.S. crude inventories fell for a seventh straight week in the latest Energy Information Administration reporting week, keeping attention on a market that remains sensitive to supply risks in the Middle East.
The same report showed another draw in the Strategic Petroleum Reserve. Traders also continued to watch disruption risk around the Strait of Hormuz, a key shipping route for global oil flows.
The latest market talk roundup also noted analyst moves involving TotalEnergies, TransAlta, Shell, Equinor and Viva Energy.
The inventory data gave the oil market a fresh fundamental signal, while the geopolitical backdrop continued to shape near-term price expectations.
Revision note
Initial automated publication.