
EIA Crude Inventories Draw 0.4M vs Forecast 1.4M Draw
EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.

EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.

WTI jumps toward $97.00 (+2.93%) as US–Iran escalation lifts the supply-risk premium. Reuters: Iran hit 10 ships near Hormuz after the US sank five Iranian tankers; Houthi hits on Saudi energy facilities.

Lagarde says inflation stays well above target into 1H27 and returns around target toward end-2027, with longer-term expectations near 2%. Data-dependent stance; further tightening may follow. Soft ECB print + EUR post-print — PC≠hike reprint.

ECB hikes 25 bps as expected: Main Refi to 2.65%, marginal lending 2.9%, deposit facility 2.5%. Staff projections accompany the print; Lagarde press conference is a separate follow.

VLCC earnings on the ME–China run hit a record near $800,000 a day, while US Gulf–Asia lump-sum fixtures print a record ~$29.5 million (~$15/bbl ex war-risk), Bloomberg and OilPrice stamp. Persian Gulf conflict and shipping workarounds are tightening the tanker list.

WTI slips to about $93.20 in early Europe on profit-taking, with US–Iran tensions capping downside. Body EU stamp kept separate from an Asian bullet — not averaged. API −300k; EIA later.

OFAC designates Xinbi Guarantee TCO plus XinbiPay/NewPay and SafeW enablers under EO 13581 (EO 14390 furtherance). Marketplace volume stamped over $24B; DOJ Strike Force seized infrastructure and wallets.

Treasury plans a ~$6B longer-term buyback — about 3× usual, focused on 10y–20y — after Bessent’s Aug 19 at-least-double signal. 10y ~4.85%, 30y ~5.30%, 20y ~5.31%; DXY ~98.85; gold gives back toward ~$4,391.

WTI extends to about $93.85 (+1.77%) in New York, a three-month high, as US–Iran and Houthi–Saudi escalation keeps Hormuz traffic limited and TD Securities sees the path of least resistance higher.

Ukraine drone attack kills four in Novorossiysk (29 injured). Newsquawk CPC terminal report stays thin; UNITED24 Fuel Oil Terminal GEOINT is separate — not the CPC Blend crude terminal.

Brent cleared $100 for the first time since July 24 as Gulf conflict escalated. CNBC 5:11 a.m. ET stamped $100.44 / WTI $94.92; Reuters by 0802 GMT $99.93 after $100.19; WION $100.19 then ~$99.90 — stamps quoted separately, not averaged.

South Korea dispatches a Hormuz assessment team to the UAE while stressing deployment is not presupposed. Blue House still reviewing; NSC report on return; Lee Paris FoN; National Assembly needed for any troop dispatch.