WTI remains in the high-$80s as inventory data fights macro pressure. Rzzro's NYMEX feed put WTI at $87.20/bbl, down 3.14% on the session.
The EIA reported U.S. commercial crude stocks fell by 7.2 million barrels to 426.5 million barrels, about 5% below the five-year seasonal average. Cushing stocks also declined.
OPEC+ approved another 188,000 b/d quota increase, but the physical impact is uncertain. Gulf disruptions mean some announced volumes may not reach the market immediately.
For buyers, the message is mixed. The headline supply increase is bearish, but weekly draws and geopolitical risk keep the risk premium alive.
Hedge in layers rather than waiting for a single trigger. Watch EIA draws, Cushing stocks, and any headline on Hormuz flows before changing hedge ratios.