EnergyReader · 2026-08-09 01:25

US Crude Inventory Build and a Depleted SPR Complicate the Iran-Deal Bear Case

By EnergyReader Newsroom · August 9, 2026

The American Petroleum Institute estimated US crude oil inventories rose 2.69 million barrels in the week ending July 30 (2026-07-30), against analyst expectations for a 2 million barrel draw. The week prior had seen a 3.3 million barrel draw, also per API data. The report landed Tuesday (2026-08-04), the same session ICE Brent crude front-month fell to $79.24, down 5.41% on the day, and WTI crude front-month dropped to $75.97, off 5.75%, as fresh US-Iran peace deal speculation swept through the market. The inventory surprise barely registered.

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