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WTI Extends Gains As US Oil Product Exports Hit Record Highs, Huge SPR Release, Production Dips

WTI Extends Gains As US Oil Product Exports Hit Record Highs, Huge SPR Release, Production Dips Oil prices are modestly higher this morning, erasing overnight losses on Trump's 'ceasefire extension' after Iran attacked three ships in the Strait of Hormuz. While headline roulette continues to drive oil prices incrementally, this morning's inventory/supply data from DOE will provide some color on how the API Crude -4.5mm Cushing +700k Gasoline -5.2mm Distillates -4.6mm DOE Crude +1.925mm Cushing +806k Gasoline -4.57mm - 10th weekly draw in a row Distillates -3.43mm - 4th weekly draw in a row Crude stocks unexpectedly saw a build last week...
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Mearsheimer: "it is almost impossible for me to see how Israel and the US win this war."
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