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The Marked Chart Wire · Energy
Oil Inventories
The Energy Information Administration reported that crude oil inventories dropped by 1.892 million barrels, beating the zero-barrel forecast. Gasoline stocks rose by 3.87 million barrels, while distillate inventories declined by 1.462 million barrels.
Part of a series: US crude inventories fall for six straight weeks
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Oil Inventories
The American Petroleum Institute reported a 2.03 million barrel decline in US crude inventories, contrasting with an expected 0.8 million barrel build. Cushing stocks also fell by 0.453 million barrels.
Oil
US crude oil prices increased as investors weighed potential disruptions to supply from the Middle East region.
Iran
Futures briefly crossed the 100 euro mark per megawatt hour, a level unseen since late 2022. Costs have risen sharply since the Iran conflict, adding over 100 billion euros to the region's import bill.
Commodity Prices
The World Bank projects a 5.2 percent decline in global oil supply for 2026, marking the steepest drop in four decades. It also forecasts a 23 percent rise in overall commodity prices before a 7 percent fall in 2027.
Nuclear Power
The Department of Energy has offered Constellation Energy up to $5 billion in conditional financing to modernize reactors in Illinois, Maryland, and Pennsylvania. The plan aims to add 1,100 megawatts of capacity to support AI data center demand.
Nuclear Energy
Nano Nuclear Energy and Hyundai Engineering signed a nonbinding agreement to support the development of a compact nuclear unit at the University of Illinois. The deal explores domestic manufacturing and future commercial uses without binding financial commitments.
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