US EIA Crude Oil Stocks Change (Jan/02) -3.831M vs. Exp. 1.1M (Prev. -1.934M)

The recent EIA report indicating a crude oil inventory draw of 3.831 million barrels versus the expected increase of 1.1 million barrels is a significant surprise.

Newsquawk StaffPublished 7 Jan 2026, 15:50 UTCOn the live feed at 15:30 UTC — 1 more headline followed before this page went public

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16:00

Newsquawk Daily Economic Releases - 8th January 2026

15:41

China reportedly tells tech companies to halt NVIDIA (NVDA) H200 chip orders, via The Information; officials may order domestic AI chip purchases with NVIDIA orders

15:30

US EIA Crude Oil Stocks Change (Jan/02) -3.831M vs. Exp. 1.1M (Prev. -1.934M)

15:20

[MARKET UPDATE] Hawkish reaction following the US ISM Services figure where the headline topped expectations; session high for DXY (98.64) whilst USTs are eyeing session lows; US equity futures also pressured across the board, RTY -0.9%

15:15

EIA Expectations: Crude 1.1M, Distillate 2.2M, Gasoline 2.9M

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Context

This unexpected decline could indicate tightening supply dynamics, potentially supporting oil prices amid ongoing geopolitical uncertainties.

Energy · last 90 days

Recent headlines that moved markets

ENERGY/8 Sept · 19:50 UTC

Iran launched an attack against US Navy ships on Monday that the US military has yet to acknowledge, WSJ reports, citing US officials.

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Immediate upside seen in oil following these reports.

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Russian President Putin says that Russia and Ukraine should agree first; he notes that there is an opportunity to reach a peace agreement.

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ENERGY/1 Sept · 16:17 UTC

Initial reports of an American attack on Iran, reports i24's Stein.

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ENERGY/27 Aug · 17:46 UTC

The Trump administration has repeatedly told mediators it has no interest in going back to the terms of the MoU it reached with Iran in June, reports WSJ citing sources

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ENERGY/25 Aug · 19:26 UTC

A ceasefire between the US and Iran has been agreed upon, it includes free navigation in the Strait of Hormuz and will be announced in the coming days, reports Ria citing Pakistani and Iranian sources

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