Core Viewpoint - Oil prices are rising due to escalating tensions between the U.S. and Iran, overshadowing a significant increase in U.S. crude inventories [1] Oil Price Movements - Brent crude oil futures increased by 34 cents, or 0.49%, reaching $69.74 per barrel [1] - U.S. West Texas Intermediate (WTI) crude rose by 37 cents, or 0.57%, to $65.00 per barrel [1] - Both benchmarks had settled higher the previous day, with Brent gaining 0.87% and WTI gaining over 1.05% [1] U.S.-Iran Relations - U.S. President Donald Trump indicated that no definitive agreement was reached with Israeli Prime Minister Benjamin Netanyahu regarding Iran, but negotiations will continue [1] - Trump mentioned the possibility of sending a second aircraft carrier to the Middle East if a deal with Iran is not achieved [1] - Indirect talks between U.S. and Iranian diplomats took place last week, with the next round of talks yet to be scheduled [1] U.S. Economic Indicators - U.S. job growth unexpectedly accelerated in January, with the unemployment rate falling to 4.3%, indicating economic health [1] - The resilient U.S. economy is supporting expectations for oil demand [1] Crude Inventory Data - U.S. crude inventories rose by 8.5 million barrels to 428.8 million barrels last week, significantly exceeding analysts' expectations of a 793,000-barrel increase [1] - Despite the inventory build, global oil inventory increases have generally been below expectations since the start of the year [1] Market Outlook - Oil prices are likely to remain biased to the upside due to the U.S.-Iran situation, tighter sanctions on Russian oil, and expectations of reduced exports [1]

Core Viewpoint - West Texas Intermediate crude oil prices experienced a decline due to geopolitical tensions and an anticipated increase in U.S. crude inventories, which overshadowed a temporary output halt in Kazakhstan's large fields [1] Group 1: Price Movement - West Texas Intermediate crude oil prices fell on Wednesday [1] Group 2: Influencing Factors - Geopolitical tensions exerted pressure on oil prices [1] - An expected build-up in U.S. crude inventories contributed to the price decline [1] - A temporary halt in output at two large fields in Kazakhstan was not sufficient to counteract the downward pressure on prices [1]

Market Performance - U.S. stocks showed mixed trading, with the Nasdaq Composite gaining over 150 points, while the Dow decreased by 0.17% to 49,380.41 and the S&P 500 rose by 0.27% to 6,963.78 [1] - Health care shares increased by 1.1%, while materials stocks fell by 1.5% [1] Economic Indicators - The ISM services PMI rose for the third consecutive month to 54.4 in December, up from 52.6 in the previous month, exceeding market expectations of 52.3 [2][10] - U.S. job openings decreased by 303,000 to 7.146 million in November, marking the lowest level since December 2020 and falling short of market estimates of 7.60 million [10] - U.S. crude inventories dropped by 3.831 million barrels to 419.1 million barrels, contrary to market expectations of a 1.1 million barrel increase [10] Commodity Market - Oil prices fell by 2% to $56.01, while gold decreased by 0.6% to $4,469.30 [5] - Silver dropped by 5.1% to $76.89, and copper fell by 3.1% to $5.8740 [5] Company News - Innovative Eyewear Inc (NASDAQ:LUCY) shares surged by 47% to $1.74 after reporting preliminary fourth-quarter sales of approximately $1 million, a 45% year-over-year increase [9] - Ventyx Biosciences Inc (NASDAQ:VTYX) shares rose by 37% to $13.74 following reports of advanced acquisition talks with Eli Lilly & Co. for over $1 billion [9] - Monte Rosa Therapeutics Inc (NASDAQ:GLUE) shares increased by 51% to $24.10 after announcing interim data from a Phase 1 clinical study [9] - Datavault AI Inc (NASDAQ:DVLT) shares fell by 14% to $1.20 after disclosing a collaboration with a New York City retail destination [9] - Curis Inc (NASDAQ:CRIS) shares decreased by 15% to $0.85 after announcing a private placement totaling up to $80.8 million [9] - Bright Minds Biosciences Inc (NASDAQ:DRUG) shares dropped by 12% to $82.30 following the announcement of a $100 million public offering [9]

Core Viewpoint - Oil prices experienced a reversal, declining due to reduced geopolitical risks in the Middle East and an increase in U.S. crude inventories [1] Oil Price Movement - Brent crude fell by 0.5% to $65.89 per barrel [1] - WTI crude decreased by 0.6% to $61.67 per barrel [1] Geopolitical Context - Israel and Hamas reached an agreement on the first phase of President Donald Trump's peace plan for Gaza, which may lower the region's risk premium [1]

Core Insights - Oil prices showed a slight recovery in early Asian trading after two sessions of significant declines, with Brent futures at $66.17 and WTI at $62.50, reflecting a 0.21% increase on the day [1] - The recent price fluctuations are attributed to concerns over a potential OPEC+ production increase and mixed signals from U.S. crude inventory data [2][3] Group 1: Price Movements - Brent and WTI experienced a sharp selloff earlier in the week, with both benchmarks falling over three percent on Monday, marking the steepest daily losses since August 1 [2] - The decline continued on Tuesday, with both benchmarks shedding at least another one and a half percent, indicating market anxiety regarding OPEC+ production decisions [2] Group 2: Inventory Data - The American Petroleum Institute reported a decrease in U.S. crude inventories by 3.67 million barrels for the week ending September 26, suggesting tighter supply conditions [3] - However, gasoline stocks increased by 1.3 million barrels, and distillate inventories rose by 3 million barrels, presenting a mixed supply picture [3] Group 3: OPEC+ Discussions - OPEC+ is reportedly considering a production hike of up to 500,000 barrels per day in November, which is three times the increase seen in October, with Saudi Arabia advocating for a larger increase to enhance its market share [4] - OPEC has expressed unease regarding the reports of a 500,000 bpd increase, labeling them as "misleading," which underscores the uncertainty in the group's decision-making process [4] Group 4: Market Outlook - Traders are closely monitoring the upcoming EIA inventory data, which may confirm the API's reported drawdown and provide short-term support for prices [5] - The near-term direction of oil prices is expected to depend heavily on inventory trends and signals from OPEC+ ahead of its next ministerial meeting [5]

Group 1 - Oil futures are stabilizing after three consecutive sessions of gains, influenced by concerns over Russian supply disruptions and limited market movements ahead of the Federal Reserve's interest-rate decision [1] - The American Petroleum Institute (API) reported a decline of 3.4 million barrels in U.S. crude inventories, while there was a larger-than-expected increase in diesel stocks [2] - The average estimate from a Wall Street Journal survey anticipates that crude stocks will remain unchanged from the previous week [2] Group 2 - WTI crude prices have decreased by 0.3%, currently at $64.35 per barrel, while Brent crude is down 0.2%, priced at $68.31 per barrel [2]