Today, the DOE said there was a surprise build of 7975K vs 1500K estimate. The private API showed a build of around 900K.
The price of crude oil futures dipped to $74.30 on the headlines but soon after the squeeze was on.
The high for the day reached $76.90. That is a new 4 year high (November 2014).
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US oil reserve at 43-yr low! Traders eye price impact & supply risks. Will it boost energy stocks?
Goldman cuts Brent forecast to $80 for 2026, $75 for 2027 on Hormuz deal Goldman's second cut in a week signals the bank thinks the Hormuz reopening is moving faster than the market assumed.
China's May data showed industrial output beating expectations at 4.5% but retail sales falling 0.6%, the first decline since the pandemic, as domestic demand and fixed asset investment deteriorated sharply.
BOJ set to hit 1% but vote split, bond taper pause and July signals are the real story The hike is the headline; the vote count, the taper and Uchida's tone are the market.
China data May 2026: Industrial output +4.5% y/y (expected +4.2%) Economic activity data for China, May 2026. Retail sales decline, the first since the pandemic
US oil reserve at 43-yr low! Traders eye price impact & supply risks. Will it boost energy stocks?
China house prices May 2026 -3.5% y/y (prior -3.5%) China's struggling housing sector continues to struggle
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