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Anas Alhajji: U.S. crude oil drops nearly 5% after U.S. and Iran deal
Anas Alhajji, managing partner, energy economist, market analyst at Energy Outlook Advisors LLC, reports that U.S. crude oil prices declined by nearly 5 percent.
The drop follows comments by U.S. President Donald Trump that the U.S. and Iran have completed a deal to open the Strait of Hormuz.
Alhajji previously noted that a sharp U.S. crude inventory draw lifted prices, while unexpected gasoline and distillate builds raised demand concerns in recent market data. He also reported that Russian LNG exports reached record highs and Venezuela’s crude oil shipments surged to the highest levels since early 2019. These developments have contributed to ongoing monitoring of oil supply and demand factors.
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