US EIA Weekly Crude Production 13.657M (Prev. 13.657M)
The EIA report shows US crude production unchanged at 13.657 million barrels per day, indicating stability in output amid fluctuating demand dynamics.
US VP Vance has reportedly been speaking with intermediaries about the Iran conflict as recently as Tuesday, Reuters sources say
[MARKET UPDATE] Crude prices see upticks in recent trade despite a lack of fresh factors, although the Iranian Foreign Ministry spokesperson recently rebuffed Trump's claims of Iran's ceasefire request
US EIA Weekly Crude Production 13.657M (Prev. 13.657M)
Fed’s Musalem says he has lowered the probability of the baseline scenario and increased the likelihood of alternative scenarios; US economy was already overheated during the 2022 oil price shock and did not overheat now
EIA Expectations: Crude 2.0M, Distillate -1.1M, Gasoline -1.9M
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This steady production level could limit upward pressure on prices in the short term, as it suggests no immediate supply constraints. Traders should monitor how this stability interacts with global demand and geopolitical tensions, which could drive sentiment in oil markets.
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