Why Oil Fell Below $100: Diesel Supply Is the Key
Brent crude fell back below $100 after Thursday’s 4.4% surge, as talk of emergency stock releases hit the part of the market that is tightest: diesel. The proposal could add 50 million barrels of diesel and 50 million barrels of crude, but no supply has been released yet — and potential G7 discussions are the next test.
Oil's Biggest Build in 3.5 Years — And Prices Rose Anyway
U.S. crude inventories posted their biggest weekly build in three and a half years — 17.4 million barrels, against expectations for a drawdown — and oil closed higher anyway. Today's preview breaks down why the barrels piled up, what the Strait of Hormuz has to do with it, and why the Fed's next move may be a hike.