Snapshot: Brent crude is holding around $105/bbl ahead of key US retail sales data at 08:30 ET. OPEC cutting its demand growth estimates for 2026 weighs on sentiment while IEA highlights ongoing undersupply.
- Watch 08:30 ET Retail Sales; a stronger print reignites inflation concerns and boosts the dollar, pressuring crude.
- Geopolitical tensions remain a wild card. Developments around the Strait of Hormuz warrant close monitoring.
Bias into NY: Sideways to slightly bearish, with OPEC’s demand concerns capping upside. A weaker-than-expected retail sales number might provide a temporary boost, but broader headwinds remain.