Crude oil futures are steady as market sentiment awaits fresh macroeconomic clues from U.S. CPI data. Inflation trends can influence Fed policy and indirectly sway oil prices through shifts in global growth expectations. The Energy Information Administration predicts that conditions will continue to worsen. The agency expects Brent crude, currently trading around $68 per barrel, to average $59 per barrel in the fourth quarter and $50 per barrel in early 2026, while inventories build more than 2 million barrels per day over the same period. Though this flow is relatively modest on a global scale, its timing exacerbated bearish sentiment. The restart added to the perception that more barrels are headed to market just as the demand outlook continues to erode. Combined with the OPEC+ narrative, the return of Kurdish crude further tipped the balance of sentiment toward oversupply. Crude oil futures gained 1.2% in afternoon trading as the EIA’s latest report confirmed a 3.5M barrel draw in U.S. crude stocks. Energy equities reacted positively, with major oil producers outperforming the S&P 500 energy sector index.