WTI crude rose above $82/bbl, up 0.7% on the day.

President TRUMP signed an executive order easing tariffs on certain imported ground beef to reduce consumer costs. Under the order, higher duties on lean trimmings will be temporarily waived if imports exceed a preset quota; the measure runs 90 days with a monthly cap of 100,000 tonnes. The WHITE HOUSE framed the step as keeping beef affordable amid supply strains and said safeguards aim to limit domestic disruption and give U.S. ranchers room to rebuild herds. U.S. ranchers sharply oppose the move, saying it will harm domestic producers and does not address obstacles to expanding the national herd, and the decision has strained a key Republican midterm constituency.

An Iranian senior source said on the 26th Iran and Oman remain negotiating details of an agreement on the Strait of Hormuz. An IRGC spokesman earlier said the two sides had agreed on each country's share of control over the waterway and on revenue allocation, but the senior source said specific terms are still under discussion. It is unclear which negotiation stage the IRGC comment referred to; Iran earlier this month said a deal was close.