Crude Stockpiles Drop Sharply, Exceeding Forecasts Below $80

Unexpectedly large draw in private crude inventories sends Brent below $80 as geopolitical risk premium eases. Private inventory data revealed a larger-than-expected draw in crude oil stockpiles, surprising markets already adjusting to easing tensions in the Strait of Horm

Unexpectedly large draw in private crude inventories sends Brent below $80 as geopolitical risk premium eases.

Private inventory data revealed a larger-than-expected draw in crude oil stockpiles, surprising markets already adjusting to easing tensions in the Strait of Hormuz. Brent crude prices dipped below $80 as the war premium faded and Iranian oil exports resumed.

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