Oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 7.6 million barrels for the week to June 18. This compared with a draw of 7.4 million barrels reported for the previous week and another draw, of 7.2 million barrels, that the American Petroleum Institute reported for the week to June 18 yesterday. Analysts had expected the EIA to report a crude stock draw of 3.625 million barrels for the period. The draw comes amid a slight faltering in the oil price rally as reports emerged that OPEC+ is considering returning more barrels to global supply from August in response to the strong rebound in demand. The hiccup came after the rally got another strong boost from the Iranian elections. These yielded a hardliner for the new president of the country, casting a shadow over the success of nuclear talks with the […]