Energy Minute – 07/19/2019

Energy News: Low Oil Price - 07/29/2019
Ryan Sitton In The Oil Patch Featured

In The Oil Patch Radio Show is proud to bring you this week’s energy minute produced by Here’s Texas Railroad Commissioner Ryan Sitton with your current industry update:

Yesterday morning, president Trump said a u s navy ship had downed and Iranian drone in the Strait of Hormuz hours after Iranian forces said they had seized a foreign tanker oil prices rose after Thursday’s announcement with West Texas intermediate futures 0.6% higher at $57.12 a barrel. The steep rise in oil prices despite the small cargo involved underscores market sensitivity to oil disruptions in the Persian Gulf. But afternoon prices switched to a 2.9% drop to $55.89 a barrel. As investors focused on a huge rise in fuels stockpiles, including me, 3.6 million barrel jump in gasoline inventories.

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