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WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production
WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production
Oil prices are higher this morning, shrugging off the well-telegraphed (and practically useless) SPR release.
"Oil prices remain volatile and risk sentiment fragile and trading is on the headlines and rapidly evolving conflict in the Middle East," noted Neil Wilson, Saxo UK investor strategist.
And while, the main drivers of crude prices remain more global, the domestic supply and demand situation remains noteworthy based on its impact on gasoline (pump) prices.
API
Crude -1.7mm (+1.1mm exp)
Cushing
Gasoline -1.8mm
Distillates -2.3mm
DOE
Crude +3.82mm (+1.1mm...
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Feb 22, 2026 / Dave DeCamp
US Southern Command Kills Three in Latest Boat Strike
US Southern Command announced that its forces blew up another alleged drug-running boat in the waters of Latin America on Friday, killing at least three people. SOUTHCOM said the boat was targeted in the Eastern Pacific Ocean, and, as usual, the command offered no evidence to back up its claim that the small vessel was […]
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Mar 29, 2026 / Kyle Anzalone
US and Israel Have Only Destroyed a Third of Iran’s Missile Stockpile
After a month of relentless bombing, the US can only confirm that a third of Iran’s stockpile of ballistic missiles has been destroyed. Five people familiar with intelligence assessments told Reuters that the US can only confirm with certainty that a third of Iranian missiles have been destroyed. Tehran’s ballistic missiles are the backbone of […]
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Mar 16, 2026 / Tyler Durden
The Wrath Of Kharg
The Wrath Of Kharg
By Ben Picton, Senior Market Startegist at Rabobank
Brent crude is bid again this morning as markets digest the dump of news over the weekend relating to the Iran war. On the bullish side for crude was the US decision to bomb Iranian military assets on Kharg Island – the Persian Gulf port where up to 90% of Iranian oil exports are typically loaded onto tankers. Announcing the strikes via Truth Social, President Trump was at pains to be clear that oil infrastructure was not targeted, but...
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