US EIA Weekly Crude Production 13.702M (Prev. 13.74M)
This week's EIA data shows a slight decrease in US crude production, down from 13.74M to 13.702M barrels per day.
Fed's Barkin (2027 voter, Neutral) says they should not immediately assume that people will be displaced by AI; AI will provide opportunities for workers to do higher-skilled tasks
US Treasury Secretary Bessent says the US Treasury will continue to pressure Iran on weapons
US EIA Weekly Crude Production 13.702M (Prev. 13.74M)
EIA Expectations: Crude 1.84M, Distillate -1.2M, Gasoline -0.272M
JPMorgan raises its long-term gold forecast to USD 4,500/oz, keeps its 2026 year-end forecast at USD 6,300/oz
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While this decline is marginal, it could indicate potential tightening in supply, especially if it aligns with rising demand or geopolitical tensions. Traders should watch for potential upward pressure on oil prices, particularly in relation to WTI and Brent benchmarks.
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