US crude stocks expected down 6.3 million barrels Bank of America sees $100/b oil in 2022 Raisi election could muddy US-Iran nuclear talks Crude prices moved sharply higher June 21, underpinned by global demand recovery hopes and a pause in talks to revive the Joint Comprehensive Plan of Action that could see US sanctions lifted on Iranian oil. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX July WTI settled $2.02 higher at $73.66/b, and ICE August Brent climbed $1.39 to $74.90/b. “The rebound in demand in the northern hemisphere summer is so strong that the market is becoming increasingly concerned about further sharp drawdowns on inventories,” ANZ Research analysts said in a June 21 note. Analysts surveyed by S&P Global Platts on June 21 said US crude oil inventories are expected to have declined around 6.3 million barrels in the week […]