- Crude oil in floating storage fell by 22% last week, according to Bloomberg
- Crude in floating storage fell from 113.3 MMBbls to 88.7 MMBbls during the week ending February 5
- Inventories saw the largest decrease in the Asia Pacific, with inventories falling by 21 % week-over-week to 67.5 MMBbls
- Iran President Khamenei says U.S. must make the first move on Iran Nuclear Deal ~ JCPOA (Bloomberg)
- In an interview on "Fareed Zakaria GPS", Iranian Foreign Minister Javad Zarif said his country expects the U.S. to return to full compliance to the deal, and to "break with failed policies of President Trump"
- President Biden has said that he would not lift sanctions until Iran stops enriching Uranium, or to reduce enrichment activity to within the accord limits