#GateSquareAprilPostingChallenge


#OilEdgesHigher – Full Market Breakdown Crude oil futures extended gains for a third straight session on Friday, driven by tightening supply fundamentals and renewed geopolitical risks. Below is a detailed look at the numbers and drivers. --- 📈 Price Action (as of 12 April 2026, 14:30 GMT) Benchmark Price Change (24h) YTD Change Brent Crude (June) $89.72/bbl +0.65% (+$0.58) +13.2% WTI Crude (May) $85.43/bbl +0.72% (+$0.61) +14.1% · Session high/low (Brent): $90.15 / $89.10 · Open interest: +12% vs 30-day average (institutional buying noted) --- 🛢️ Supply-Side Data 1. US inventory draw (EIA weekly report): · Crude stocks: -4.9M barrels (forecast: -1.2M) · Cushing, OK storage: -2.1M barrels (lowest since Oct 2024) · SPR: unchanged at 395M barrels 2. OPEC+ compliance (March estimate): · Total output: 41.2M b/d (target: 40.8M b/d) · Russia, Iraq, Kazakhstan overproducing slightly but pledge deeper cuts in April 3. Russian crude exports (April 1-11): · Down 9% month-on-month due to drone attacks on refineries and ports · Urals discount to Brent narrows to $11.20 (from $14.50 in March).
#GateSquareAprilPostingChallenge
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