Persian Gulf

  • Crude Oil
    Oil Spikes After API Reports Huge Crude Inventory Draw of the Year

    Oil Spikes After API Reports Huge Crude Inventory Draw of the Year

    The American Petroleum Institute (API) reported an abundant crude oil stock draw of 10.961 million barrels for the week ending July 18, compared to analyst expectations of a much smaller—but significant–4.011-million-barrel draw. The inventory draws this week compares to last week’s small draw of 1.401 million barrels, according to the API. A day later, the EIA had estimated a first…

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  • News
    Conflict of The Persian Gulf Can Be Harmful for Oil Industry

    Conflict of The Persian Gulf Can Be Harmful for Oil Industry

    The potential for Iran attempting to shut the Strait of Hormuz to tanker visitors has elevated considerably in current weeks, as has the opportunity of a Persian Gulf War, particularly with the Islamic Republics’ destruction of a U.S. surveillance drone on June 20 carried out intentionally. This act offers weight to Tehran’s risk that it’s going to inflict a heavy…

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