As a paid subscriber, you now have access to The Oil Report Discord. If you have been part of BETA testing, please go re-join on this link below. Come in now and say Hi! I’m here all day.Join here: https://discord.gg/jTzQsHNfsYHere’s what’s
Week ending May 29, 2026 Released: Wed, Jun 3The NumberThe US drew another 7.99 MMbbl from the SPR this week, with commercial crude matching at 7.97 MMbbl and Cushing pulling another 0.58 on top. That is 16 MMbbl of crude leaving the system
This weeks report Don’t fight the SPRSenior Iranian official says renewed war with US ‘inevitable’, Arab News reports citing state TVVia Arab News Read more
In this report: Why Brent fell 12% this week, when the OECD release tapers off, and the political escalation the market is missing. The calendar trade for what comes after.Last week Brent: -11.86% (-$12.36). Open $97.50 High $97.81 Low $89.
Week ending 22nd May 2026THE PRINTThe US pulled a whopping 9.92 MMbbl from the SPR last week, an all-time weekly record and the second set in as many weeks. Add the 7.86 MMbbl commercial crude draw and the country emptied close to 17.8 MMbb
This week’s report ‘Rapid Draining’ Read more
In this report: The market is mislabelling a supply shock as demand destruction; the tell is the US redlining at 93% while the world tightens; genuine destruction is narrow (jet, petrochem); inventories are draining at a record pace toward
Week ending May 15, 2026THE PRINTThe US pulled a whopping 9.92 MMbbl from the SPR last week, an all-time weekly record and the second set in as many weeks. Add the 7.86 MMbbl commercial crude draw and the country emptied close to 17.8 MMbbl
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Full report Calculus Shifts here. Read more
In this report: Iran’s conditional Hormuz reopening, China’s refusal to curtail Iranian purchases, Saudi Arabia’s Helsinki-style regional framework, and the structural shifts reshaping Middle East energy flows.BRENT LAST WEEK +7.87% ($7.97)
Link to this weeks report The New Normal Share Read more
In this report: The consensus is pricing a return to pre-war flows. Five reasons that’s the wrong trade. Plus the COT pattern that’s worked five times since 2022.Key Stats. BRENT -6.36% (-$6.88) for the week. Open $106.60 High $115.30 Low $
Iran and the US are working with mediators to hammer out a one-page, 14-point memorandum of understanding that would lay out a framework for a monthlong period of talks to end the war, via WSJ citing sourcesThe discussion points would be th
This weeks report here ‘The NACHO trade’Axios report here Exclusive: U.S. and Iran closing in on one-page memo to end war, officials sayBREAKING: US and Iran are reportedly closing in on one-page memo to end war, Axios reports citing offici
In this report: J.P. Morgan's September inventory floor. The UAE walks. Kuwait exports zero. Europe's gas math is one warm summer from breaking. Iran's 13-point proposal versus Trump's blockade prep. Commitment of traders analysis and expan
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Video covering this weeks report and what to look out for. This week’s report ‘#OUTATIME’ here Read more
In this report: Brent is at $101, not $150, for one reason: China is currently a net seller of crude. Mercuria’s CEO says they have about three weeks of inventory left to dump. Thereafter, the world’s largest buyer steps back onto the bid i