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Goldman estimates light oil prices would need to rise by 50 cents per barrel to make medium crude from the Middle East more attractive to Asian refiners, as U.S. Gulf Coast refiners prioritize domestic light crude over imported medium grades.

A potential slowdown of the Federal Reserve's balance sheet drawdown and Treasury Secretary Scott Bessent's assurance against imminent long-term debt hikes could offer relief in the near term to bond market jitters as fiscal concerns linger. Fed minutes from the January 28-29 rate-setting meeting released this week showed officials weighed a possible pause or slowdown of the Fed's balance sheet reduction, known as quantitative tightening (QT), as a binding government debt cap could complicate the central bank's ability to gauge market liquidity. Meanwhile, Bessent said in an interview with Bloomberg Television on Thursday that, for now, expanding long-dated government debt issuance is not on the table.

(Bloomberg) -- Oil fell to the lowest closing price this year after the breach of a key technical level accelerated losses driven by the possibility of increased flows from Iraq, weakening the prospects of supply constraints that have gripped the market recently. Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump to Halt NY Congestion Pricing by Terminating ApprovalTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’Airbnb Billionaire Offers Pre-Fa

(Bloomberg) -- Bank of Canada Governor Tiff Macklem launched the central bank’s review of its framework, but strongly suggested that officials are likely to re-endorse the bank’s current approach to targeting 2% inflation.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump to Halt NY Congestion Pricing by Terminating ApprovalTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’Airbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Di

The Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity will convene its first-ever hearing on March 4 at 10:00 a.m. ET (1500 GMT), titled “Examining Monetary Policy and Economic Opportunity,” according to the House Financial Services Committee website. The hearing comes as the Fed is embarking on a review of its operating framework, a blueprint for executing policy to meet its congressional dual mandate to foster both price stability and maximum employment.

(Reuters) -U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row to the highest level since June, energy services firm Baker Hughes said in its closely followed report on Friday. Despite this week's rig increase, Baker Hughes said the total count was still down 34, or 5% below this time last year. Baker Hughes said oil rigs rose by seven to 488 this week, their highest since September, while gas rigs fell by two to 99.

(Bloomberg) -- US consumers’ long-term inflation expectations rose to the highest level in almost three decades on concerns President Donald Trump’s tariffs will translate into higher prices.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump to Halt NY Congestion Pricing by Terminating ApprovalTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’Airbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is