Anas Alhajji: EIA reports crude stocks fell by 0.9 million barrels

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8 hours ago

Anas Alhajji: EIA reports crude stocks fell by 0.9 million barrels — EIA crude stocks fall by 0.9 million

EIA reported that crude oil inventories decreased by 0.9 million barrels to 409.8 million barrels.

Anas Alhajji, managing partner at Energy Outlook Advisors LLC, added that the diesel crisis is intensifying with another steep drop in distillate inventories.

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Earlier this week, Brent crude traded above $109 as investor demand pushed oil prices higher, according to recent commentary by Anas Alhajji. Alhajji has previously said that supply and pricing remain sensitive to global events. He also noted that tensions in Hormuz and Saudi Arabia could be pointing toward recession risks, citing ongoing weak global economic growth.

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