• West Texas Intermediate traded below $74 a barrel after declining by 1.9% on Wednesday, with Brent crude under $80. The American Petroleum Institute reported nationwide inventories rose by 1.8 million barrels, according to a report seen by Bloomberg, with levels at Cushing also expanding. That’s feeding into signs that supply is running ahead of demand as the year-end approaches.
• Official prints on US inventories, as well as gauges of output and demand, are due later Thursday from the Energy Information Administration. Crude volumes at the Cushing, Oklahoma, hub have risen for the past nine weeks, and a 10th build, if confirmed, would be the longest run of inflows since 2016.