"The US gasoline market has become very tight, with inventories drawing at a rapid average pace of 0.7mb/d since April 1st to 5% below their historical seasonal median this week" - Goldman

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.188 million barrels in the week ending May 8. In the week prior, US…

Consumers have tapped surplus oil-on-water and near-record stocks to mitigate supply losses from Hormuz's near-closure. But such draws are becoming unsustainable.

"The US gasoline market has become very tight, with inventories drawing at a rapid average pace of 0.7mb/d since April 1st to 5% below their historical seasonal median this week"…