Oil market remains steady amid tariff concerns, focused on Trump’s upcoming statement on Russia. IEA cuts oil demand growth forecast for 2025 to 700k b/d, lowest since 2009. Speculators increase net long position in ICE Brent and gasoil. USDA projects tighter corn market for 2025/26, with reduced production estimates and lower ending stock estimates. Wheat production estimates revised up, but ending stock estimates cut due to higher export estimates.

Read more at Investing.com: Oil Demand Outlook Weakens, but Q3 Supply Tightness Keeps Prices Supported