Rory Johnston: U.S. commercial petroleum inventories steady, crude falls sharply

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Rory Johnston: U.S. commercial petroleum inventories steady, crude falls sharply — U.S. crude reserves drop, other products rise

Rory Johnston reports that U.S. headline commercial petroleum inventories held steady last week, recording a slight decrease of 0.5 million barrels. Commercial crude oil inventories fell by 6.1 million barrels, or 15.2 million barrels if the Strategic Petroleum Reserve release is included. Other major petroleum products registered increases but remain at historically low levels.

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Johnston recently noted that Brent crude futures fell sharply, moving below $90 per barrel. Earlier, he reported the largest weekly pullback in net speculative Brent positions during the war. These developments come as market attention remains on inventory and price movements.

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