Snapshot: WTI Crude is trading at 73.24, down 0.84% on the day. The dominant domestic driver remains the significant draw in US crude inventories, down 8.26 million barrels for the week ending June 12th. Today’s focus shifts to US Flash PMIs at 09:45 ET.
- EIA US Crude Stocks: -8.26 million barrels (as of 2026-06-12)
- Risk: Today’s US Flash Manufacturing and Services PMIs could signal a slowdown, impacting demand expectations.
Bias into NY: The inventory draw provides a baseline support for WTI Crude, but the immediate upside appears capped ahead of key US macro data. We favour a range-bound to slightly softer bias into the NY open unless PMIs print significantly above forecast.