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WTI and Brent rebounded from their 50-day moving averages ahead of an EIA report. The Energy Department's October 29 announcement awarded exchanges covering more than 40 million barrels from the Strategic Petroleum Reserve, part of a program offering up to 172 million barrels.
Latest EIA data showed commercial crude stocks falling 1.9 million barrels to 410.6 million, with gasoline and distillate figures also moving.
Reserve awards add supply only once the barrels physically move to refineries, so near-term crude prices may stay sensitive to diplomacy and delivery timing. Higher diesel and energy costs feed into feed-milling and transport expenses for buyers.
fxempire.comChristopher LewisNov 3, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
