Oil news and market movers: Houthi rebels at it again

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  • Houthi rebels have sunk a Greek freight ship in the Red Sea by using an unmanned drone missile on Wednesday, Reuters reported. 
  • For a fourth straight month, China has imported nearly 284,000 tons of Venezuelan crude Oil despite implied US embargoes, Boomberg reports.
  • At 15:00 GMT, the US stockpile change for the week ending June 14 from the Energy Information Administration (EIA) will be published. The previous release was a build of 3.73 million barrels, with a drawdown of 2 million expected for this week. 
  • Tropical storm Alberto is nearing the West Gulf Coast and could cause brief Crude supply disruptions out of the region on the back of it. 

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