Oil futures now in New York pre-market hours

In New York pre-market hours, oil futures now are holding $82.05, reacting to API data showing a 3.2 million barrel drawdown. That inventory drop accelerates the tightening supply narrative. "We believe September marked a turning point, with the oil market now heading towards a sizeable surplus in 4Q25 and into next year," JPMorgan analysts wrote on Thursday. Gulf Sovereign Wealth Funds Defy Oil Price Slump With $56 Billion Spending Spree U.S. WTI oil futures now edged higher to $82.15 per barrel, supported by increased refinery demand in the Gulf Coast region. Short-term RSI values point to slightly overbought territory, hinting at a possible pullback.