News

U.S. Treasury Department: Sanctions target Iran’s “extortion network” in the Strait of Hormuz.

U.S. Treasury: Today’s sanctions on Iran target Hormuz (related) monetization.

EIA distillate fuel production extended demand data in the United States for the week to July 24 was 5.3103 million barrels per day, compared with the previous value of 5.3227 million barrels per day.

The U.S. EIA Strategic Petroleum Reserve inventory for the week to July 24 was the lowest since the week of March 4, 1983. U.S. commercial crude oil inventories excluding strategic reserves in the week to July 24 were the lowest since the week of September 28, 2018. Domestic crude oil production in the United States in the week to July 24 was the lowest since the week of May 29, 2026.

The EIA total automotive gasoline production extended demand data in the United States for the week to July 24 was 9.9311 million barrels per day, compared with the previous value of 9.7539 million barrels per day.

The EIA crude oil production extended demand data for the week to July 24 in the United States was 20.503 million barrels per day, compared with the previous value of 19.317 million barrels per day.

The EIA Strategic Petroleum Reserve inventory in the United States for the week to July 24 was -3.797 million barrels, compared with the previous value of -5.057 million barrels.

The U.S. EIA refinery equipment utilization rate for the week to July 24 was 97.2%, expected to be 95.9%, and the previous value was 96.1%.

The United States imported 186,000 barrels/day of EIA refined oil products in the week to July 24, compared with the previous value of 280,000 barrels/day.

EIA heating oil inventories in the United States for the week to July 24 were 308,000 barrels, compared with the previous value of 231,000 barrels.

The U.S. EIA crude oil imports in the week to July 24 were -237,000 barrels, compared with the previous value of 485,000 barrels.

Elon Musk's social platform X and a group of advertisers including Mars, Shell, Nestle and Lego have reached a settlement, ending a multi-year legal dispute. X Corp sued those brands and the World Federation of Advertisers in 2024,alleging they conspired to divert "billions of dollars" in ad spend away from X;the advertisers denied the claims, saying brands have the right to choose ad placements. The settlement closes one of Musk's most aggressive legal actions in the ad industry. X's advertising revenue has fallen sharply since Musk's $44 billion takeover of Twitter in 2022.

Indian Trade Minister: (Regarding the new US bill proposing to impose tariffs of up to 100% on Russian energy buyers) No comment on speculation.

Indian Trade Minister: India’s merchandise exports increased by nearly 15% from April to July.

EIA crude oil inventories, Cushing crude oil inventories, and strategic petroleum reserve inventories in the United States for the week ending July 24 will be announced in ten minutes.

Hyundai Motor Executive: Will produce and sell a pure electric vehicle in Mexico.

According to the Financial Times: Elon Musk has reached a settlement in a long-running legal dispute with X platform advertisers.

Kia CEO: Kia will invest US$649 million in Mexico.

U.S. Congressman Warren asked the U.S. Securities and Exchange Commission to investigate Trump Media Company’s plan to sell APIs.

Iraqi Prime Minister's Office: Iraq's Security Council directed the Ministry of Foreign Affairs to take legal action against the US and Saudi air strikes.