US EIA Weekly Crude Production Change, 0% (Prev. -0.08%)
The EIA's report showing a 0% change in weekly crude production suggests stability in U.S.
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 Change, 0% (Prev. -0.08%)
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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supply, particularly as it follows a slight reduction previously. This steadiness could imply reduced volatility in oil prices, potentially supporting WTI and Brent amid prevailing geopolitical tensions. Traders should watch for demand responses and the broader implications on inflation and commodity-linked currencies.
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