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 it completed a morning round of strikes on Iran that further degraded its ability to attack commercial shipping in Hormuz. It comes a day after att...

By Tyler Durden