<div id="readability-page-1"><div>Oil futures are down bigly this morning following comments from President Trump that the war in Iran would be ended &#34;very quickly,&#34; but investors remained uncertain about the potential for de-escalation.<blockquote>&#34;We're going to end that war very quickly. They want to make a deal so badly, they're tired of - this should have happened for 47 years,&#34; Trump told a group of Congress members at the White House's annual congressional picnic on Tuesday.&#34;Somebody should have done something about it. And it's going to happen, and it's going to happen fast. And you're going to see oil prices plummet,&#34; the president added.</blockquote>Oil's declines were also reportedly driven by this optimism about a final deal draft peace agreement:<img width="500" height="219" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/2026-05-20_07-20-26.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/2026-05-20_07-20-26.jpg"/>On Tuesday, two Chinese tankers carrying crude oil traversed the Strait of Hormuz.Another, a South Korean vessel, was passing through it, according to a Reuters report. Jim Reid, of Deutsche Bank, noted that this marks &#34;one of the busiest days since the closure.&#34;However,Iran's Revolutionary Guards also warned on Wednesday that any renewed strikes on Iran could expand the war beyond the region.The IRGC also said it had not used all its capacities against the U.S. and Israel, while warning that their &#34;devastating blows will crush&#34; the adversaries, the IRGC said in a statement on its Sepah News website.For now, all eyes are on the official inventory and supply data (and SPR) after yuuuge draws reported by API overnight...API<ul><li>Crude -9.1mm (-3.4mm exp)</li><li>Cushing -1.4mm</li><li>Gasoline -5.8mm</li><li>Distillates -1.0mm</li></ul>DOE<ul><li>Crude-7.863mm (-6.0mm exp)</li><li>Cushing</li><li>Gasoline -1.548mm</li><li>Distillates +372k</li></ul>Crude stocks tumbled last week (biggest draw since Feb 13th) for the fourth week in a row. Gsoline inventories saw their 14th weekly drawdown in a row whil distillates saw another small build...<img width="500" height="311" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm5992_0.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm5992_0.jpg"/>Source: BloombergStrategic Petroleum Reserve drawdowns continue to accelerate with 9.92mm barrels/day - a record - drained last week. That means over 10% of the SPR has been drained in the last few weeks...<img width="500" height="313" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm3018.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm3018.jpg"/>Source: BloombergTotal US crude stocks including the SPR are at the lowest level since June 2025.Gasoline stockpiles continued their steady decline last week, falling another 1.5 million barrels. Stocks are still at the lowest seasonal levels since 2014.<img width="500" height="303" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm6743_0.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm6743_0.jpg"/>US Crude production dipped very modestly last week...<img width="500" height="312" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmAA84_0.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmAA84_0.jpg"/>Source: BloombergWTI (July 2026) suddenly plunged below $100 just ahead of the official data (on peace deal optimism) and extended the losses after the big draw...<img width="500" height="329" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/2026-05-20_07-33-19.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/2026-05-20_07-33-19.jpg"/>Finally, though the closure of the Strait has already pushed oil prices up by more than half, analytics firm Woods Mackenzie said if the war is extended until the end of the year, oil prices could rise as high as US$200 per barrel, though a quick settlement could lower Brent prices to US$80 by year end.<blockquote>&#34;The Strait of Hormuz is the most critical chokepoint in global energy markets, and a prolonged closure would become far more than an energy crisis,&#34; said Peter Martin, head of economics at Wood Mackenzie. &#34;The longer disruption persists, the greater the impact on energy prices, industrial activity, trade flows and global economic growth.&#34;</blockquote>The market is awaiting the start of the high-demand U.S. summer driving season, which begins with this weekend's Memorial Day holiday.It appears that American drivers will face the highest gas prices ever for Memorial Day...<img width="500" height="311" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmF3CA.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmF3CA.jpg"/>...not great for Midterms/Approval ratings.</div></div>

西方石油

美國油氣勘探與生產 ETF - iShares

能源業 ETF - Vanguard

油價因特朗普總統關於伊朗戰爭迅速結束的言論而顯著下跌，這引發了對和平協議的樂觀情緒。然而，緊張局勢依然存在，伊朗革命衞隊警告可能會出現升級。最近的庫存數據顯示，原油和汽油庫存大幅下降，戰略石油儲備經歷了創紀錄的減持。分析師預測，如果衝突持續，油價可能會飆升，而迅速解決問題則可能大幅降低價格。市場也在為美國夏季駕駛季節即將到來的高油價做好準備

Oil Prices Extend Decline After Huge Inventory Draws, Record SPR Drain

ZeroHedge

美國 WTI 原油 ETF

德銀原油基金 - PowerShares

油氣服務 ETF - Market Vectors

美國石油設備與服務 ETF - iShares

美國布倫特原油期貨基金

油氣開採 ETF - SPDR

能源業 ETF - SPDR

煉油公司指數 ETF - VanEck Vectors

美國近 12 月期原油期貨 ETF

標普全球能源股指數 ETF - iShares

標普油氣設備與服務 ETF - SPDR

美國汽油基金 ETF - Concierge Technologies

2 倍做空彭博原油 ETF - ProShares

德意志銀行

Deutsche Bank AG Subscription Rights

Deutsche Postbank AG

在大量庫存減少以及創紀錄的戰略石油儲備消耗之後，油價繼續下跌