WTI Dips As US Crude Production Hits Record High, SPR Draw Slows, Cushing Remains At 'Tank Bottoms'
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WTI Dips As US Crude Production Hits Record High, SPR Draw Slows, Cushing Remains At ‘Tank Bottoms’
WTI Dips As US Crude Production Hits Record High, SPR Draw Slows, Cushing Remains At ‘Tank Bottoms’ Oil prices are marginally higher overnight after President Trump reinstated the blockade on Iranian ports in the Strait of Hormuz and shipping slowed to a crawl amid the renewed warfare in the critical waterway. US Central Command said...
What are tank bottoms? - Energy News Beat
Crude oil inventories held at storage facilities in Cushing, Oklahoma, fell below 20 million barrels during the week ending June 19 until the week ending July 10, according to our Weekly Petroleum Status Report. Storage facilities for crude oil and petroleum products require a minimum volume of product in their tanks and pipe infrastructure to remain operational, which can vary between different storage facilities or tank systems. If storage lev…
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