US EIA Cushing Crude Oil Stocks Change (May/08) -1.702M (Prev. -0.648M)
The US EIA's report shows a notable decline in Cushing crude oil stocks, decreasing by 1.702 million barrels compared to a previous reduction of 0.648 million.
The US has reached framework agreements with companies to expand military strike capabilities
FTC reportedly files a suit over alleged Shutterstock (SSTK) misleading subscription plans
US EIA Cushing Crude Oil Stocks Change (May/08) -1.702M (Prev. -0.648M)
JBS (JBS) Executive says with Brazil reaching its quota for beef exports to China, cattle prices may decrease and favour sales in the domestic market
EIA Expectations: Crude -2.1M, Gasoline -2.85M, Distillate -2.83M
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This larger-than-expected draw could signal tightening supply, potentially supporting oil prices amid ongoing geopolitical tensions. Traders should consider the implications for both WTI and Brent benchmarks, as this data reinforces the bullish narrative in the energy markets.
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