
Biggest U.S. oil stockpile drop in a year shows tightening market
(World Oil) – U.S. crude stockpiles declined the most in almost a year last week, signaling a tighter market for American oil just as the Israel-Iran conflict threatens supplies from the Middle East. Oil inventories dropped 11.5 million barrels in the week through June 13, the steepest slide since late June 2024, according to data released Wednesday by the U.S.