When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
SZO - Abqaiq Attack And U.S. Crude Inventories: A New Risk Premium
DB Crude Oil Short ETN
Kingdom of Saudi Arabia: Whatever it takes
Last time we wrote about US crude inventories, we explained how serious KSA was about bringing the oil market to balance. Please see our previous article for reference.
Not only KSA, but also Venezuela and Iraq. See below:
Source: Author based on EIA
As a result, the crude draw since the start of June has been the steepest on record, more than 69MM barrels of crude:
Source: Author based on EIA
US oil market cannot rely in other countries to offset losses that come from KSA and Iraq: