Trump Terminates Iran Ceasefire on July 9; U.S. Oil Reserves at Decades-Low Levels

According to Guru Club, on July 9, President Trump terminated the Iran ceasefire agreement, intensifying concerns over global oil supply disruptions. U.S. commercial crude oil inventories rose 3 million barrels in the week ending Friday, marking the first increase after ten consecutive weeks of decline, according to the U.S. Department of Energy. However, reserves remain at decades-low levels. If the Strait of Hormuz, through which roughly 20% of global oil trade passes, becomes blockaded again, U.S. energy security will face severe threats, warned industry analysts. Andy Lipow, president of Houston-based Lipow Oil Consulting, stated that depleted reserves would leave the market with no buffer resources, potentially forcing oil prices higher and spurring demand reductions to rebalance supply and demand.
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