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Markets2h 46m ago
Cushing, Oklahoma, crude oil stockpiles declined for the eighth straight week to just above 20 million barrels, the lowest level for this time of year since 2005 and near 'tank bottoms'.
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Cushing, Oklahoma, United States
Who
Tickmill market strategist Patrick Munnelly, International Energy Agency, Tamas Varga, PVM
What
Cushing, Oklahoma, crude oil stockpiles declined for the eighth straight week to just above 20 million barrels, the lowest level for this time of year since 2005 and near 'tank bottoms'.
When
Wed, 17 Jun 2026 14:41:15 GMT · 2h 46m ago
Where
Cushing, Oklahoma, United States ·
Why
OECD member countries reduced crude inventories to offset the blockage of Gulf crude shipments during the Middle East war, and the Strategic Petroleum Reserve also saw a massive drawdown.
The Frontline Impact
How this affects you
The significant drop in crude inventories, particularly at the critical Cushing hub, suggests potential operational difficulties and reflects broader global efforts to compensate for disrupted Middle East oil shipments. This decline in oil prices is reducing inflation expectations.
Story chain
2 events in this thread- Markets2h 46m agoCrude inventories held by OECD member countries fell in May to the lowest level since 1990 as governments drew down stocks to offset the blockage of Gulf crude shipments during the Middle East war.Open article
- Currently Reading2h 46m agoCushing, Oklahoma, crude oil stockpiles declined for the eighth straight week to just above 20 million barrels, the lowest level for this time of year since 2005 and near 'tank bottoms'.