Oil prices look to end at highest levels in over a week: ‘Oil tanks are getting emptier each week Hormuz stays closed’
1 min readAnalysis by AlgoThesis Editorial Desk
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The story
EIA reported a sixth consecutive weekly draw in U.S. commercial crude inventories plus a further SPR release, pushing oil futures to their highest settlement in over a week. With Iran's Foreign Minister confirming active 'self-defense strikes' on U.S.-permitted sites, Hormuz closure risk is real and supply draws are accelerating — a structural bid under crude.
The two-sided take
The house read
Wrong ifA ceasefire announcement or Hormuz reopening would immediately collapse the geopolitical premium; also watch for a surprise large SPR release that could offset commercial draws and crush the inventory narrative.
Published read · research, not advice