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There was no sign of progress in ceasefire talks between the US and Iran after the worst burst of violence in weeks and Tehran-backed Hezbollah rejected a US-brokered truce in Lebanon. Bloomberg’s Abeer Abu Omar breaks down the situation.
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7Comments

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  1. 5
    @BerniLoker

    The United States will soon halt oil exports.

    The depletion of oil inventories in Cushing is happening at an alarming rate.

    At the key oil hub in Cushing, Oklahoma, where the price of U.S. crude oil (WTI) is set, inventories have fallen from 33 million barrels to about 24.5 million barrels in less than two months. The operational minimum of the storage facility is approximately 20 million barrels.

    What is the “operational minimum”?

    Reaching 20 million barrels is the “red line” beyond which real technical problems begin:

    · Quality issues: When oil levels are low, thick, viscous sludge from the bottom of the tanks rises and clogs equipment, making the remaining oil technically unusable.
    · Infrastructure risks: Tank roofs lower along with the oil level to prevent vapor buildup. However, they have a height limit — about 10–20% of storage capacity (roughly 10–20 million barrels) physically cannot be used for safety reasons.

    The decline in Cushing inventories has a direct impact on prices.

    · Price signal: Inventory levels in Cushing are essentially an “alarm level” indicator for the WTI market. When oil becomes scarce, the price rises to encourage suppliers to fill the tanks.
    · Time factor: At the current rate of withdrawals (about 943,000 barrels per week — even below the long-term average), this buffer will last only two to three weeks.

    Cushing is emptying at a record pace, and if the downward trend continues, the hub could face a technical collapse, which will inevitably trigger another sharp spike in oil prices.

  2. 7
    @jevanjoyia

    I❤Muslims 🤲🤲🤲🤲🤲🫶🫶🫶😘😘😘✌️✌️✌️✌️🇯🇴🇯🇴🇯🇴🇯🇴🇯🇴🇯🇴🇯🇴🇮🇷🇮🇷🇵🇰🇵🇰🇵🇰🇹🇷🇹🇷

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