U.S. commercial crude oil inventories fell another 8 million barrels last week, marking the sixth straight weekly decline, according to federal data released Wednesday.
Oil futures Brent they grow by more than 2 percent on Wednesday to $98. per barrel, after U.S. Energy Information Administration (EIA) data showed inventories fell by 7.97 million barrels last week, the most since February and well above the expected 4 million barrels.
The price of oil is rising. Alarming data from the USA
Oil company executives, analysts and traders are warning that these stocks are being depleted at an alarming rate in order to cushion the effects of the war with Iran, writes CNN.
Total crude oil stocks, including emergency stocks in the Strategic Petroleum Reserve (SPR), are now at their lowest level since February 2024, according to the EIA.
Iran attacks Kuwait
Tension is growing between Washington and Tehran. ANDwounds attacked American bases in Kuwait and Bahrain, as well as a ship near the Strait of Hormuz. This happened after the US military used a Hellfire missile to hit a Botswana-flagged tanker heading towards the Iranian port on Kharg Island.
According to the Ministry of Foreign Affairs of Kuwait, in one of the Iranian attacks, an Indian citizen was killed at the Kuwait airport and more than 60 people were injured. The number of people injured in the attack was one of the highest in the region since the beginning of fighting in the Iranian attacks.
Ceasefire between Israel and Hezbollah broken?
The situation was further complicated by Israel's intensification of activities in Lebanon. The situation in Lebanon is an important element of negotiations between the US and Iran, because Tehran is demanding assurances from Washington that Israel will halt its operation in Lebanon against Hezbollah as part of the agreement with Washington.
Despite the US halt in fighting between Israel and the Iran-backed Shiite organization Hezbollah in Lebanon announced on Monday, both sides are already accusing each other of breaking the arrangements and continuing attacks. Hezbollah said it fired rockets into northern Israel on Wednesday.
48 people were killed in Israeli attacks in Lebanon over the past 24 hours, the daily “L'Orient-Le Jour” reported on Wednesday. The newspaper referred to the balance sheet published daily by the Lebanese Ministry of Health.
Benjamin Netanyahu on Donald Trump
Israeli Prime Minister Benjamin Netanyahu admitted in an interview with CNBC on Wednesday that there are “tactical differences” between him and President Donald Trump, but they agree on major issues, including: that Tehran cannot have nuclear weapons and threaten Israel with their use.
He did not answer a question about whether Trump told him in the phone call that he was crazy. “I won't go into details,” Netanyahu replied. He added that he talks to the American leader every two days. He emphasized that they both have common goals that they want to achieve. Trump himself admitted on Wednesday that he had a sharp exchange with the Israeli prime minister because he is unhappy with Israel's attack on Lebanon.
On Tuesday, the American Wall Street Journal wrote that Trump and Netanyahu are arguing over how to end the war with Iran. The US president wants a diplomatic solution, and the Israeli prime minister is under pressure to strengthen the operation against Hezbollah.
