U.S. Crude Oil Storage Levels Are Falling Toward This Critical Level. Here’s What Investors Need to Know

The CEOs of Chevron (NYSE:CVX) and ExxonMobil (NYSE:XOM) have both warned that oil prices aren't fully reflecting the on-the-ground situation in the oil market. The latest update on that comes from the United States, where U.S. oil reserves are getting dangerously low, with a warning from refiner Phillips 66 (NYSE:PSX) about the issue. What's going on and what should investors do now?Oil is global, so events in the Middle East affect the rest of the world. Oil exports from the U.S. market rose as flows from the Middle East were constrained, with oil users seeking supplies from wherever they were available. U.S. oil production isn't directly affected by the war, and the country is one of the world's largest oil producers, so it was a logical place to look. Companies like Devon Energy (NYSE:DVN) and Diamondback Energy (NASDAQ:FANG) are likely to be net beneficiaries from high oil prices and increasing demand for U.S. oil.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool