Energy Market

Oil’s weekly drop has not erased supply risk as U.S. refinery runs, low crude stocks and firm distillate exports keep energy traders cautious.

U.S. gas finds support from LNG export demand and summer heat as storage stays above average and crude inventories tighten.

Oil prices lose war premium as Hormuz flows improve, while Iraq’s quota push raises a new OPEC supply risk for Brent and WTI traders.

Oil traders shift from Middle East risk premium to inventory data as Brent and WTI retreat and summer fuel demand becomes the next test.