Inventory Drawdown

A larger-than-expected 5.4-million-barrel draw in US commercial stocks confirms that domestic supply is being stretched to cover the upcoming peak travel season, providing a counter-weight to the peace-driven sell-off.

Logistical Reality

Naval experts warned on Friday that establishing secure civilian corridors in the Persian Gulf will take time. This 'logistical lag' is forcing a re-injection of a minor risk premium back into WTI prices.