US crude oil inventories plunge 9.119M barrels, far exceeding expectations of a 3.4M draw, according to API data.

EIA raises 2026 WTI price forecast to $88.32/bbl from $85.68, holds 2027 at $74.39. Brent 2026 seen at $95.39, up from $94.85. U.S. oil output to average 13.83 mln bpd.

The U.S. Energy Information Administration projects the 2026 average WTI crude oil price at $88.32 per barrel, up from $85.68, and the 2027 forecast unchanged at $74.39. Brent is estimated at $95.39 for 2026, up from $94.85, with 2027 steady at $79.39. U.S. oil production is expected to average 13.83 million barrels per day.

US crude drops $4 a barrel after Jerusalem embassy ends shelter order; Energy Secretary says Hormuz exports to keep rising.

Oil futures fell, with US crude dropping by $4 a barrel after the US Embassy in Jerusalem ended a shelter order, and the US Energy Secretary said oil exports through the Strait of Hormuz will keep increasing.

Super Micro plans to raise $7B in equity offerings to buy components for AI server orders, Bloomberg reports.

Super Micro plans to raise $7 billion through a package of equity offerings to purchase components needed to fulfill customers' orders for the company's AI servers.

Brent crude settles down 2.97% at $91.45/bbl, shedding $2.80 on the session.

Brent crude oil settled down 2.97% at $91.45 per barrel, losing $2.80.