Futures in New York rose as much as 1.2 percent after dropping on Monday. While U.S. inventories are forecast to have added 3.4 million barrels last week, that would mark slower growth than the prior week. OPEC and its partners, which are cutting output to ease the global glut, still expect markets to balance by about the third quarter, according to people familiar with the matter. U.S. crude inventories are at their highest since December and probably grew again last week, according to a Bloomberg survey before government data due Wednesday. While supplies are set for a fourth weekly advance, the expected increase is smaller than the 5 million-barrel gain a week earlier. Click Read More below for additional information.

The Port of Los Angeles posted near-record container volumes in 2025 despite a challenging trade environment, and marked the occasion to highlight a slate of projects aimed at solidifying its position as the top U.S. import gateway.  Los Angeles, which along with the Port of Long Beach comprises southern California’s San Pedro Bay maritime complex, handled 10.2 million container units in 2025, third-most in its 118-year history and the third time it topped 10 million twenty foot equivalent units (TEUs).  The port handled 10.3 million TEUs in 2024.