[CALENDER ADDITION] US Interior Secretary Burgum to address oil executives at 09:40EDT / 13:40GMT
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Iraqi energy officials say Iraq's oil output fell further as storage fills and exports via Hormuz are blocked by the conflict; output from southern oilfields fell ~80% to around 800k BPD; more oil production cuts are possible if Hormuz is not open
The official Information Center of the Iranian Government says "Regarding the terms and negotiations, the enemy has raised his own wishes and do not pay too much attention to them", via Telegram
[CALENDER ADDITION] US Interior Secretary Burgum to address oil executives at 09:40EDT / 13:40GMT
German Chancellor Merz says the best way to combat high prices is to end the war in Iran; cannot cover all the additional costs from the federal budget
Merck (MRK) says it sees Terns (TERN) deal hurting EPS by USD 0.17 in the first 12 months
On the Newsquawk feed at , 20 minutes before this page.
Context
The upcoming address by US Interior Secretary Burgum to oil executives is significant as it may outline key energy policies or regulatory changes impacting the sector. Depending on the content of his remarks, this could influence sentiment in commodities like WTI, and possibly affect broader market perceptions of energy supply and policy direction. Keep an eye on how oil prices react during and after the address, as this could indicate market sentiment towards US energy policy.
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