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Cushing Stocks Crash To 'Tank Bottoms', Seasonally Lowest Since 2005; SPR Sees Another Huge Drain
Cushing Stocks Crash To 'Tank Bottoms', Seasonally Lowest Since 2005; SPR Sees Another Huge Drain
Oil prices have tumbled in recent days as optimism grew there would be a lasting Middle East peace agreement, which would mean supplies would be back on track - but investors are taking a breather today with prices marginally higher this morning, rising off three month lows (and the 200DMA) after Trump threatened to 'start bombing again' if he doesn't like the deal (or how Iran is behaving). Solid US macro data also helped lift oil...
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Aug 26, 2026 / Tyler Durden
Japan Holds Off On New Oil Reserve Release Despite September Import Drop
Japan Holds Off On New Oil Reserve Release Despite September Import Drop
Authored by Irina Slav via OilPrice.com,
Japan expects its oil imports next month to be lower than this month's but has no plans to release additional crude from storage, the country's economy minister said.
Oil imports next month are seen at 80% of the average monthly for 2025, Ryosei Akazawa said, as quoted by Reuters. The report noted that the August import rate had been 100% of the 2025 monthly total.
The change is prompted by the redirection of tanker traffic...
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Jun 3, 2026 / Kyle Anzalone
Iran Drones Damage Kuwaiti Airport in Response to Attack on Iranian Tanker
Kuwait reports that its airport suffered significant damage during an Iranian drone attack. Iran launched the attack shortly after the US targeted an Iranian ship. “A number of hostile drones targeted today the passenger building (T1) at Kuwait International Airport, which resulted in significant material damage to the building and injuries to a number of […]
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Feb 25, 2026 / Dave DeCamp
Iran Says US Repeating ‘Big Lies’ After Trump’s State of the Union Address
Iranian Foreign Ministry spokesman Esmaeil Baghaei said on Wednesday that the US was repeating “big lies” about Iran’s nuclear program, comments that came after President Trump delivered his State of the Union address. In the address, Trump claimed he wanted a deal with Iran but that Tehran wouldn’t say “those secret words, ‘We will never […]
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