WTI Dips After Massive Crude Inventory Build, Big SPR Drain, Surge In Imports

WTI Dips After Massive Crude Inventory Build, Big SPR Drain, Surge In Imports Oil prices are marginally lower this morning as OPEC again cut its forecast for global oil-demand growth for this year, but stalled talks to reopen the critical Strait of Hormuz waterway and risks in the Red Sea prolong disruptions to global supplies. Physical disruptions are spreading beyond Hormuz. Refinery attacks and fires have hit Russia and Libya, while the Houthis claimed another attack on Saudi...

By Tyler Durden