Oil's Sharp Drop May Offer Value as Iran Supply Risks Persist
FXEmpire·2026-11-05 23:37
BrentBrent has an international backdrop that remains tied to the availability and delivery of export barrels. The latest verified EIA monthly outlook is dated October 6 and was completed October 1. It estimates inventory draws of 1.9 million barrels per day in the third quarter and forecasts 700,000 barrels per day in the fourth. The distinction matters because an inventory draw can continue even as supply disruptions ease.Middle Eastern Shut-insEIA estimated Middle Eastern production shut-ins at 4.8 milli ...