US EIA Weekly Crude Production Change, bbl -11k (Prev. -10k)
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US EIA Weekly Crude Production Change, bbl -11k (Prev. -10k)
Senior Iranian Official says Iran's initial response to the US proposal is "not positive" but Iran is still reviewing the proposal, Reuters reports
EIA Expectations: Crude -0.6M, Distillate -1.0M, Gasoline -2.0M
On the Newsquawk feed at , 20 minutes before this page.
Context
The US EIA reported a slight decrease in weekly crude production, with output falling by 11k barrels following a previous drop of 10k. While the change is marginal, it suggests a continuing trend of constrained supply, which could support prices amidst ongoing geopolitical tensions. Traders should keep an eye on how this might affect oil markets, particularly WTI and Brent, in the context of broader energy dynamics.
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