Event Brief
Oil futures near highest levels in over a week
Filed: Jun 03, 2026 at 2:03 PM ET
Summary: Oil futures were set to settle Wednesday at their highest levels in more than a week after U.S. crude supplies fell for a sixth week.
WHO: U.S. Energy Information Administration (EIA)
WHAT: EIA reported a sixth straight weekly drop in U.S. commercial crude supplies and another large draw from the emergency oil reserve.
WHEN: Jun 03, 2026 at 1:18 PM ET
WHERE: USA
WHY: Cause not yet established.
ℹ️ This event is analyzed using pattern arcs, velocity indicators, and source analysis in our MI Console.
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