U.S. EIA: Cushing, Oklahoma crude stocks fell 342,000 barrels in the week to Sept. 11; prior draw 684,000 barrels.

Senior military leaders from the US, Israel and Gulf states held a secret meeting in Germany last week organized by CENTCOM commander Brad Cooper, the first such high-level gathering in more than six months since US and Israeli operations against Iran. Participants included military chiefs from Israel, Saudi Arabia, the UAE, Bahrain, Kuwait, Qatar, Jordan and Egypt. Cooper told attendees US forces will not withdraw from the Middle East in response to Iranian attacks on US bases and outlined plans to expand vessel transits through the Strait of Hormuz. Israeli chief of staff Eyal Zamir briefed delegates on Israeli operations across multiple fronts. Sources said Israel and Saudi Arabia, with US assistance, are discussing Saudi military options supported by Israeli intelligence, surveillance and reconnaissance as Houthi attacks on Saudi targets intensify and the group extends its influence around the Red Sea and Bab al-Mandeb.

ICICI Securities' primary dealers and IDFC First Bank forecast India's benchmark 10-year government bond yield could breach its May 2026 high and rise to 7.25% by Dec 31, a three-year peak. Citigroup has moved up its expectation for a Reserve Bank of India rate hike from December to October. Traders warn the RBI's withdrawal of excess system cash, alongside rising inflation and a global bond-market selloff, could trigger a sustained downturn. Ashhish Vaidya, head of funds for DBS Group in Mumbai, said: "The outlook is chaotic; it's hard to judge the yield peak. Conditions have clearly changed; traders are repositioning for tougher supply and higher inflation."