US Private Energy Inventory Data (bbls): Crude +13.4mln (exp. +0.8mln), Distillates -2.0mln (exp. -1.3mln), Gasoline +3.3mln (exp. -0.4mln), Cushing +1.4mln
The US private energy inventory data reveals a substantial crude oil build significantly higher than expectations, suggesting weaker demand or supply overshoot.
US President Trump says our employment numbers are really good and remain good after government job cuts
US Treasury Secretary Bessent says US-China ties are stable but competitive, aiming for fair competition and de-risking, not decoupling, while he adds China must rebalance amid persistent USD 1tln trade imbalance
US Private Energy Inventory Data (bbls): Crude +13.4mln (exp. +0.8mln), Distillates -2.0mln (exp. -1.3mln), Gasoline +3.3mln (exp. -0.4mln), Cushing +1.4mln
Amazon (AMZN) discloses 11.8 mln Class A share stake in Beta Technologies (BETA)
US issues Venezuela related license authorizing certain transactions necessary to ports and airport operations, also authorising certain activities involving Venezuelan-origin oil
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Meanwhile, the declines in distillates and gasoline inventories contrast with weaker forecasts, hinting at mixed underlying demand dynamics. This data could pressure crude prices as traders reassess supply and demand balances in the face of these unexpected inventory builds.
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