{"id":1542417,"date":"2025-06-18T14:40:16","date_gmt":"2025-06-18T18:40:16","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1542417"},"modified":"2025-06-18T14:40:16","modified_gmt":"2025-06-18T18:40:16","slug":"wti-tumbles-on-trump-iran-comments-despite-massive-crude-inventory-draw","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/wti-tumbles-on-trump-iran-comments-despite-massive-crude-inventory-draw\/1542417\/","title":{"rendered":"WTI Tumbles On Trump Iran Comments, Despite Massive Crude Inventory Draw"},"content":{"rendered":"

WTI Tumbles On Trump Iran Comments, Despite Massive Crude Inventory Draw<\/span><\/p>\n

\n

Crude prices are down modestly this morning despite ongoing attacks between Iran and Israel and API reporting a major crude draw overnight as President Trump\u00a0said Iran has reached out and wants to negotiate<\/strong>.<\/p>\n

When asked about possible Iran strikes, Trump said: \u201cI may do it. I may not do it. Nobody knows what I\u2019m going to do.\u201d <\/em><\/strong><\/p>\n

Meantime, Trump also said he told Israel Prime Minister Benjamin Netanyahu to \u201ckeep going.\u201d<\/strong><\/p>\n

So geopolitical risk premia are far from over.<\/p>\n

Additionally, Russian flows rose only very marginally in the last four weeks, limiting downward price pressures.<\/p>\n

API<\/strong><\/p>\n

Crude -10.133mm\u00a0 (-600k exp)<\/p>\n

Cushing -800k<\/p>\n

Gasoline -202k<\/p>\n

Distillates +318k<\/p>\n

DOE<\/p>\n

Crude -11.47mm (-600k exp, -2.8mm Whisper) – biggest build since June 2024<\/strong><\/p>\n

Cushing -995k<\/p>\n

Gasoline +209k<\/p>\n

Distillates +514k<\/p>\n

The offoicial data confirmed API’s with a huge crude drawdown (the biggest since June 2024). We also saw a third straight week of product builds…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

Despite the plungng rig count, US crude production remains near record highs (for now)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

WTI tumbled ahead of the official data on Trump’s comments on Iran seeking peace.. bounced very briefly on the huge crude draw…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

…but\u00a0the main driver for prices right now continues to be the potential for Israel-Iran war escalations.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 06\/18\/2025 – 10:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/energy\/wti-tumbles-trump-iran-comments-despite-massive-crude-inventory-draw<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

WTI Tumbles On Trump Iran Comments, Despite Massive Crude Inventory Draw Crude prices are down modestly this morning despite ongoing attacks between Iran and Israel…<\/p>\n","protected":false},"author":0,"featured_media":1542418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1542417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1542417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1542417"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1542417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1542418"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1542417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1542417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1542417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}