1,Market hotspot: Storm ‘Barry’ gradually weakens after entering the inland
The storm ‘Bari’ struck the southern United States approaching the Louisiana refinery and causing the offshore oil platform along its route to be evacuated, with about 100,000 households having a power outage.
The National Hurricane Center said that ‘Barry’ may bring up to 25 inches (64 cm) of rainfall in some areas.
The Federal Security and Environmental Enforcement Agency said in a notice that the oil operators in the Gulf of Mexico had shut down production of 1.01 million barrels per day due to the storm.
It is expected that ‘Barry’ will gradually weaken after moving intoland, but the squally rain and storm surge will continue for some time.
2,The United States condemns Iran’s harassment of British ships, but the House of Representatives restricts the use of force against Iran.
US Secretary of State Pompeo issued a tweet saying that ‘the United States condemns the Islamic Revolutionary Guard Corps – the Navy is trying to harass British ships near the Strait of Hormuz.’
Pompeo said, ‘We commend the Royal Navy for ensuring freedom of navigation and will continue to work with our allies to ensure that the Iranian regime will not undermine maritime security and global business’.
However, the US House of Representatives passed a defense policy amendment with a vote of 251-170, prohibiting the use of force against Iran without the prior approval of Congress.
3,EIA reports US crude oil inventories decline for four consecutive weeks
The US Energy Information Administration (EIA) reported on Wednesday that as of July 5, US crude oil inventories fell by 9.5 million barrels.
Earlier IHS Markit analysts expected US crude oil inventories to fall by 2.1 million barrels last week.
EIA data also showed that US gasoline inventories fell by 1.5 million barrels last week, while middle distillate stocks climbed 3.7 million barrels.
IHS Markit had expected US gasoline inventories to fall by 400,000 barrels last week and middle distillate stocks to increase by 1.5 million barrels.