Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards

U.S. Crude Oil Inventory Falls to Lowest Since 1983 for Eighth Consecutive Week

GateNews
Commodities
According to the U.S. Energy Information Administration, crude oil inventory fell for the eighth consecutive week as of June 12, hitting levels not seen since July 1983. Strategic petroleum reserves dropped to their lowest since July 29, 1983, while Cushing crude storage fell to approximately 20 million barrels, the lowest since October 2014. The U.S. Energy Information Agency noted that Persian Gulf oil supply is expected to rebound strongly, though recovery will take months. Global oil demand for 2026 is now projected to decline 1.1 million barrels per day due to the Iran conflict, revised down from a previous forecast of 420,000 barrels per day.
View Source
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

16h ago
U.S. Crude Oil Inventories Hit Lowest Level Since 1985, EIA Reports
17h ago
U.S. Strategic Petroleum Reserve Hits Lowest Level Since July 1983 as of June 12
17h ago
U.S. Crude Oil Inventories Decline 8.26M Barrels Last Week, Below Analyst Forecast
17h ago
U.S. Crude Oil Inventories Fall 8.263 Million Barrels in Week Ended June 12
17h ago
U.S. Crude Oil Inventory at Cushing Declines 1.606M Barrels Week of June 12, Steeper Than Prior Week
In-Depth Analysis

Brent and WTI Crude Fall Below $79 and $76 as US-Iran Deal Expected Friday

Lucas Bennett20h ago

Oil prices fall below $80, and the Iran-U.S. talks enter the second phase: will BTC and other risk assets see a turning point?

Gate Instant Trends21h ago

Reuters exclusive: U.S. military secretly oversees the transshipment of 92 oil tankers carrying 90 million barrels, emulating Iran’s covert ship model

Market Whisper06-17 03:04
Comment
0/400
No comments