U.S. Crude Inventory Falls 7.86M Barrels; Hormuz Strait Sees 26 Vessels Pass in 24 Hours on May 15

According to Foshan Jinkai Futures report on May 21, U.S. crude oil inventory declined by 7.863 million barrels in the week ending May 15, while strategic petroleum reserves fell by 9.92 million barrels to 374.2 million barrels, marking the largest weekly decline since August 1982. The Hormuz Strait remained largely closed, though Iran reported 26 vessels passed through in the past 24 hours.

U.S. intelligence indicated Iran rapidly rebuilt military capabilities, posing a continued significant threat. Pakistan's army chief may visit Iran to announce a final agreement text, with the next round of nuclear talks scheduled after late May in Islamabad. The U.S. showed limited flexibility but would not concede on nuclear requirements and strait issues.