EIA

The US Energy Information Administration (EIA) is the statistical Arm of the US Department of Energy, established in 1977. Its flagship publications are the Weekly Petroleum Status Report (WPSR), released every Wednesday at 10:30 ET, and the monthly Short-Term Energy Outlook (STEO), which carries official US government Brent and WTI price forecasts. The EIA's inventories data and price models are reference datasets for global oil markets.

The EIA's June 2026 STEO cut 2026 global oil demand by 1.3mbd month-on-month (the largest recent revision), forecast OECD stocks at a 23-year low of ~2.3bn barrels by December 2026, and set 2027 Brent at $79/bbl. The weekly WPSR is the primary Wednesday price catalyst for European oil desks. After eight consecutive US crude draws removing roughly 26.8mb since mid-May, the 24 June WPSR recorded the first US distillate build in weeks: +3.1mb, lifting the deficit to 10% below the five-year average from 13%, alongside a ninth consecutive crude draw of 6.088mb to 412.1mb at 96.1% utilisation. The build begins narrowing the trans-Atlantic product arb, softening the pull-east signal that has sustained the ICE Gasoil crack; when US distillates draw, the EBOB-RBOB arb tightens, and the first sign-flip in weeks eases that pressure.