
EIA Crude Inventories Draw 0.4M vs Forecast 1.4M Draw
EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.
Iraq is hiring multiple tankers via state-run Iraqi Oil Tankers Co. to transit the Strait of Hormuz, a cabinet-approved step confirmed by a government spokesman.

Iraq is in the process of trying to hire multiple tankers to transit the Strait of Hormuz as Baghdad steps up efforts to get its crude to global markets. That is the Friday 4 September 2026 stamp (Khalid Al Ansary, 4 September 2026, 11:58 AM EDT). Friday’s South Korea Hormuz naval package, WTI retreat below $89, and US diesel record stay separate tapes.
The government has already begun the process through state-run Iraqi Oil Tankers Co., a government spokesman said in a text message. The step was already approved by the country’s cabinet. The page does not stamp a tanker count or a barrel figure — none are invented here. This note does not claim Hormuz is reopened.
The weekend US–Iran tanker strikes / Tehran Hormuz zone flags is a separate primary under the same Hormuz squeeze — distinct from this Iraq tanker-hiring tape.
Monday’s WTI near $90 / OPEC+ October hold is a separate crude tape under the same Hormuz squeeze — distinct from this Iraq tanker-hiring note.
Iraq’s Basra sales struggle after SOMO cut discounts $9–$10/bbl is a separate Monday oil note — Hormuz is not reopened.
Qatari LNG tanker Al Marrouna’s rare Hormuz exit attempt is a separate laden-LNG tape — distinct from this tanker / WTI / Basra / Jizan note. Hormuz is not reopened.
Kuwait’s ~1M b/d export recovery via Hormuz and STS is a separate Gulf-flow tape — distinct from this Basra / LNG / WTI / CAD / tanker note. Hormuz is not reopened.
Also see: Iraq Seeks Significant OPEC+ Output-Quota Increase From a 6M b/d Baseline in Capacity Audit.
Also see: VLCC Freight Hits Record Near $800k/Day ME–China; US Gulf–Asia Lump-Sum ~$29.5M.
Informational only. Not trading advice, signals, or a guarantee of any market outcome.
Written and fact-checked with AI assistance, reviewed by a human editor before publication.
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EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.

WTI jumps toward $97.00 (+2.93%) as US–Iran escalation lifts the supply-risk premium. Reuters: Iran hit 10 ships near Hormuz after the US sank five Iranian tankers; Houthi hits on Saudi energy facilities.

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