US EIA Weekly Crude Production 13.71M (Prev. 13.573M)
The latest EIA data reveals a rise in US crude production to 13.71 million barrels per day from the previous 13.573 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 Weekly Crude Production 13.71M (Prev. 13.573M)
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 increase may signal a strengthening supply backdrop, potentially impacting oil prices as it could exacerbate any existing concerns about tepid global demand. Traders should watch for reactions in WTI and Brent as this could shift sentiment in the near term.
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