Hot spot tracking

  • U.S. strategic petroleum reserves for the week ending June 12 were at their lowest level since the week ending July 29, 1983. Inventories at the largest U.S. oil storage hub plummeted to critically low levels. This news is bullish for crude oil.
  • Cook: Rising memory prices will lead to price increases for Apple products. This news is positive for Apple.
  • IEA Monthly Report: The gradual reopening of the Hormoz Strait will lead to a significant surplus of oil reserves next year. This news is bearish for crude oil.

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