US EIA Weekly Crude Production Change, bbl -33k (Prev. 22k)
The latest EIA report shows a weekly crude production decrease of 33,000 barrels, compared to a previous increase of 22,000 barrels, which indicates a potential tightening in the supply balance.
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 Change, bbl -33k (Prev. 22k)
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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This drop could support upward price pressures on WTI and Brent in the short term, especially amid ongoing geopolitical tensions that can impact energy markets. Traders should watch for how this might influence overall sentiment in oil markets and any related currency moves in commodity-linked FX pairs.
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