WS #9982

The dominant narrative remains the US-Iran peace deal framework, which continues to de-escalate and pressure oil prices lower. Bloomberg reports oil near a three-month low as the deal is seen boosting supply. The API reported a larger-than-expected crude draw of 8.33M barrels vs. 4.5M expected, but this is being offset by the Iran deal narrative and an SPR release of 8.9M barrels. Ukraine drone attacks on Russian oil infrastructure (Moscow refinery, Krasnodar oil base) are ongoing but represent a continuation of existing tensions rather than a new escalation. No new MAG7-specific signals or contradictory developments were found. The window is dominated by sports betting, routine earnings previews, and noise.