{"id":699514,"date":"2026-06-03T12:39:13","date_gmt":"2026-06-03T16:39:13","guid":{"rendered":"https:\/\/goldtadise.com\/?p=699514"},"modified":"2026-06-03T12:39:13","modified_gmt":"2026-06-03T16:39:13","slug":"oil-prices-hold-gains-as-gasoline-stocks-hit-12-year-lows-cushing-tank-bottoms-loom","status":"publish","type":"post","link":"https:\/\/goldtadise.com\/?p=699514","title":{"rendered":"Oil Prices Hold Gains As Gasoline Stocks Hit 12 Year Lows, Cushing &#8216;Tank Bottoms&#8217; Loom"},"content":{"rendered":"<p><em>The\u00a0<strong>Strategic Petroleum Reserve saw another huge drawdown<\/strong>\u00a0this week&#8230;<\/em><\/p>\n<p>Finally, economists at Macquarie wrote in a note this morning that crude oil\u2019s muted reaction to the closure of Hormuz has mainly been a function of the oversupply seen before the war&#8230;&#8230;..The analysts suggested that \u201c<em><strong>the market will be ok for another month or two<\/strong><\/em>, especially given commercial crude stocks have been cushioned by SPR\/product draws.&#8221;<\/p>\n<blockquote><p><em>\u201cIf the Strait reopens soon, we expect prices to fall sharply. However, with stocks drawing rapidly,\u00a0<strong>if the Strait remains closed, at some point prices will need to move much higher<\/strong>.\u201d<\/em><\/p><\/blockquote>\n<p>&#8216;Tank Bottoms&#8217; are in sight around the world.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/energy\/oil-prices-hold-gains-gasoline-stocks-hit-12-year-lows-cushing-tank-bottoms-loom\">https:\/\/www.zerohedge.com\/energy\/oil-prices-hold-gains-gasoline-stocks-hit-12-year-lows-cushing-tank-bottoms-loom<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Strategic Petroleum Reserve saw another huge drawdown\u00a0this week&#8230; Finally, economists at Macquarie wrote in a note this morning that crude oil\u2019s muted reaction to the closure of Hormuz has mainly been a function of the oversupply seen before the war&#8230;&#8230;..The &hellip; <a href=\"https:\/\/goldtadise.com\/?p=699514\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2948,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-699514","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/699514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/users\/2948"}],"replies":[{"embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=699514"}],"version-history":[{"count":1,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/699514\/revisions"}],"predecessor-version":[{"id":699515,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/699514\/revisions\/699515"}],"wp:attachment":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=699514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=699514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=699514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}