EIA Weekly Petroleum Status Report

Natural gas moved lower after a smaller than expected storage build, keeping traders focused on nearby technical support. WTI oil rallied as crude inventories fell sharply, while Brent stayed choppy as markets weighed Middle East tensions and potential emergency supply releases.

Natural gas pushed higher as hotter weather forecasts encouraged traders to price in stronger demand ahead of the EIA update. WTI and Brent oil also rallied, with diesel market stress, reserve data, and blocked supply routes shaping the latest move.

WTI and Brent oil rallied sharply as traders priced in heightened risk around key Middle East shipping routes following the seizure of Mokha on the Red Sea. Natural gas attempted to rebound despite a larger-than-expected weekly storage build in the latest EIA data.