US EIA Distillate Stocks Change (Apr/24) -4.494M (exp. -2.1M, Prev. -4.57M)
The latest EIA report shows a significant draw in US distillate stocks, coming in at -4.494M barrels, which is a larger decrease than both the expected -2.1M and the previous draw of -4.57M.
Iranian Steel Top Official says the transfer of Mubarake steel to the south of the country is unprofessional, IRNA reports
BoC Governor Macklem says if energy prices stay higher for longer, there could well be a need to raise the policy rate - Post-meeting press conference
US EIA Distillate Stocks Change (Apr/24) -4.494M (exp. -2.1M, Prev. -4.57M)
Top Iranian official tells Press TV Iran succeeds in rendering all options on US table ineffective, Press TV reports
French PM says TotalEnergies (TTE FP) has to redistribute exceptional profits
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This larger draw signals tightening supply dynamics, likely supporting higher prices in the short term, and it could draw attention from traders looking at the broader implications for fuel prices and potential inflationary pressures.
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