- WTI advanced for a fourth day as a U.S. industry report showed another decline in crude and product inventories
- About 720 MBbl/d or 39.6% of Gulf of Mexico output remains shut in following Ida (BSEE)
- Iran’s top negotiator has been replaced by a hard-line critic of the 2015 nuclear deal
- Ida-inflicted disruptions were reflected in the American Petroleum Institute (API) data released Sept. 14
- The API showed a 5.44 MMBbl draw in U.S. crude inventories for the week ended Sept. 10
- Gasoline inventories fell 2.76 MMBbl, and distillate stocks fell 2.89 MMBbl
- U.S. government data is due later this morning
- Iran removed its foreign negotiator just as world power pressed Tehran and Washinton to quickly revive the ailing accord after talks stalled (Bloomberg)
- Ali Bagheri Kani will take over as deputy foreign minister for political affairs effective immediately
- The new deputy, Abbas Araghchi, has been a critic of the 2015 JCPOA
- AEGIS notes that Iran has had 1.5-1.8 MMBbl/d on the sidelines due to sanctions