Yahoo Finance | EN590 Commodities
EN590 Commodities GroupEN590 / Diesel 2026-09-16T00:00:00+00:00
The war in Iran that had to be over and won by the United States in about six weeks is now in its seventh month and the oil markets are starting to crack. Gone are most of the cushions the market had in the early weeks and months of the Middle East conflict. The oversupply from early this year has disappeared as oil on water was drawn down quickly when the Strait of Hormuz was closed to tanker traffic in March. Record stock releases led by the International Energy Agency (IEA) depleted strategic inventories in developed economies, including in the United States, where the Strategic Petroleum Reserve (SPR) now holds the lowest level of crude oil since the early 1980s. China, which strategically slashed its crude oil imports by about 4-5 million barrels per day (bpd) in May and June, has sta
About EN590 Commodities Group
25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.