Oil Stockpiles Near Danger Zone

[SamuelTheThird]

Energy markets expert and author of Oil's Endless Bid Dan Dicker says oil markets are underestimating the impact of ongoing supply disruptions, warning that global stockpiles have been drawn down significantly as millions of barrels per day remain unable to reach end markets. Dicker warns hosts of Bloomberg This Weekend David Gura and Christina Ruffini if inventories continue to fall, crude prices could surge from current levels to as high as $135 a barrel.

[WSHazel]

1. There are a lot of people very long oil

who are very scared. I believe Trump and his friends are among them. There is a lot holding prices down, from U.S. production to demand destruction to alternative supply chains. We are watching a huge short going head to head against a huge long. We will see who wins soon enough. My money is on the shorts.

[harumph]

2. The Cushing Repository is on a lot of people's minds.

[Wonder Why]

3. The trump suppository is on all repug minds. Does that count?

[LetMyPeopleVote]

4. Critical oil storage hubs hit decades-low levels with no relief in sight

The biggest U.S. commercial oil storage facility has reached an “operational stress” level.

Our strategic oil reserves were getting dangerously low. That's why he surrendered to Iran. Like China in a tariff war, Iran could hold out longer. Just classic American arrogance that suddenly slammed into the wall of reality.

www.nbcnews.com/business/ene...

— Dan 🔵🌊🇺🇸 (@arepublic86.bsky.social) 2026-06-17T23:40:46.484Z

https://www.nbcnews.com/business/energy/cushing-oil-reserves-stress-iran-war-rcna350536

Crude oil stockpiles across the country continued to plunge this week as the Trump administration tapped America’s backup supply of energy products to help keep gas prices down while the Strait of Hormuz remains effectively shut to vessel traffic.

Draining the stockpiles has caused the U.S. Strategic Petroleum Reserve, located in Louisiana and Texas, to fall to its lowest level since 1983, according to Energy Department data issued Monday.

Inventories held at a second critical oil hub in Cushing, Oklahoma, tumbled to just 20 million barrels, according to data released Wednesday by the Energy Information Administration. That brings the country’s largest commercial storage facility to an “operational stress” level, according to Rory Johnston of the research firm Commodity Context.

“Without any immediate relief on the horizon,” this is a “concerning pressure point,” Johnston said.....

During the second week of June, commercial stockpiles of crude oil fell 8.3 million barrels, while 8.9 million more barrels were drained from the Strategic Petroleum Reserve. It was the 10th straight week of declining U.S. reserves.