WS #9980

The dominant narrative remains the US-Iran peace deal framework (de-escalating) and the Ukraine drone strike on Moscow's oil refinery. No new data points or counter-signals have emerged to alter the previous assessment. The API reported a larger-than-expected crude draw of 8.33M barrels vs. 4.5M expected, which is bullish for oil but is offset by the ongoing ceasefire deal that could ease supply fears. The Ukraine drone attack on Moscow's Gazpromneft refinery continues to disrupt Russian fuel supplies, but this is a continuation of the existing story. No new MAG7-specific signals or contradictory developments were found in this window.