Last week, total US crude oil inventories recorded a historic plunge of 17.8 million barrels, with exports hitting an all-time high, sparking concerns about supply shortages.

Among them, the share extracted from the Strategic Petroleum Reserve (SPR) accounts for approximately 9.9 million barrels of the total decrease this time. Meanwhile, inventories in Cushing, Oklahoma—the delivery hub—have declined for the fourth consecutive week, continuing to approach "tank bottoms." Traders are continually monitoring the movements of this key storage and transportation hub, viewing it as the primary potential signal that total U.S. inventories are entering a downward recession cycle. Expand