US EIA Weekly Crude Production Change, bbl 0K (Prev. -11K)
The latest EIA report indicates a production change of 0K barrels, a notable reversal from the previous week's decline of 11K barrels.
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, bbl 0K (Prev. -11K)
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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This stabilization in U.S. crude production could imply a balancing supply dynamic amidst ongoing geopolitical tensions, which may affect WTI and Brent prices. Market participants should monitor how this affects inflationary pressures and energy market sentiment.
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