Snapshot: WTI Crude trades at 71.06, down 2.94% overnight. The dominant domestic driver is the significant draw in EIA US Crude Stocks, which fell by 8.26 million barrels as of June 12th, signalling robust demand and drawing down inventories to levels that could support prices.
- EIA US Crude Stocks: -8,263k bbl (as of 2026-06-12)
- NY Session Risk: Geopolitical tensions in the Middle East remain a persistent wildcard, capable of overriding inventory data.
Bias into NY: The sharp inventory draw provides a floor for WTI Crude, suggesting a bias towards a retest of higher levels, provided geopolitical headlines do not escalate unexpectedly.