Oil prices look to end at highest levels in over a week: ‘Oil tanks are getting emptier each week Hormuz stays closed’
Energy
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.
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Angle
↑ LONG+7% target-4% stop1-3 weeks, geopolitical-driven
Long USO as six straight inventory draws + live Hormuz risk create a sustained supply squeeze — target a 6-8% move from current levels with a tight stop below today's open.