WTI crude futures down 1.0% intraday, trading at $82.70/bbl.

A senior Pentagon official said Washington, amid a review of U.S. force posture in Europe, wants to "advance and accelerate" transfer of most conventional defense responsibilities to European partners. Deputy Undersecretary for Policy Colby arrived in Brussels to brief NATO allies on a six-month review due to conclude by year-end that could substantially alter U.S. deployments in Europe. As part of the process allies received a questionnaire due this Friday asking whether they "publicly support" Trump’s foreign policy, whether they restrict use of U.S. military bases, and whether they purchase from U.S. defense contractors. Colby said the U.S. seeks allies' views in writing.

The Baltic Dry Index rose for a sixth consecutive session on Thursday to a nearly three-month high as freight rates across vessel classes advanced. The BDI climbed 51 points, or 1.7%, to 3,107. The Baltic Capesize Index (BCI) gained 105 points, or 2.1%, to 5,138 — its highest since June 3; Capesize average daily earnings rose $950 to $43,098. The Baltic Panamax Index (BPI) added 46 points, or 2.1%, to 2,292, its highest since Aug. 12; Panamax average daily earnings increased $419 to $20,632. The Baltic Supramax Index (BSI) ticked up 1 point, or 0.06%, to 1,645.