Petroleum & Wood Mackenzie

Petroleum: Petroleum inventories in the United States decreased more than expected, indicating higher demand or tighter supply, which typically supports Petroleum prices.

Wood Mackenzie: Wood Mackenzie offers comprehensive analysis and data on crude storage levels, particularly at Cushing, providing insights into the operational floor and market responses to declining inventories.

Petroleum: The price of oil has been significantly impacted by the closure and subsequent partial reopening of the Strait of Hormuz. The easing of supply concerns due to increased traffic through the strait has led to oil prices falling to pre-war levels.

Wood Mackenzie: Wood Mackenzie, an energy firm, has estimated Iran's oil output decline and onshore storage levels, highlighting the economic pressure on Iran.

Wood Mackenzie: Wood Mackenzie, through its SVP Alan Gelder, offered historical context and projections on oil price increases due to the conflict.