The United States is putting another 17 million barrels of crude from the Strategic Petroleum Reserve on offer, one day after the IEA accelerated emergency stock releases as governments scramble to get more oil and fuel into a tight market.
Crude oil prices were on course to book a weekly gain earlier today, amid continuing Iranian strikes on tankers in the Strait of Hormuz and a substantial inventory draw in the United States, at 8.56 million barrels for the week to October 9.
Curious Minds Corner
What does seismic reflection data primarily help geoscientists identify?
Subsurface geological structures and stratigraphic boundaries that may contain hydrocarbon accumulations.