- The overnight US crude stock change number reported by the American Petroleum Institute (API) came in at a chunky 5.2 million barrels drawdown. This more than doubles the 2 million drawdown expected by analysts.
- The Energy Information Administration (EIA) will publish its stock change data at 14:30 GMT. Analysts expect to see a much smaller draw of 2 million barrels compared to the prior’s weeks drawdown of 3.728 million barrels.
- Bloomberg reported that the US has allowed the sale of missiles to Saudi Arabia, another step of escalation in the Middle Eastern region.
- Meanwhile, retaliation from Iran against Israel is not taking place , creating a moment of easing tensions in the Gaza region as the main parties try to restart ceasefire talks.
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