Contract talks between the United Steelworkers union and Marathon Petroleum, the lead negotiator for 26 U.S. refiners and chemical plants, continued on Saturday as a strike deadline approached, raising the risk of disruption to U.S. fuel production. The union said it rejected a recent offer from Marathon, keeping the prospect of work stoppages alive at multiple refineries, a development that could tighten domestic supplies and influence pricing for Oil – US Crude if operations are curtailed or shut.
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Over the past month, Oil – US Crude has climbed about 14.47%, reflecting both supply-side concerns and expectations for resilient demand, with the labor negotiations adding an additional risk premium to prices. From a short-term trading perspective, the 1-day technical indicator for U.S. crude currently flashes a Buy signal, suggesting near-term momentum remains positive even as the market weighs potential refinery disruptions and their impact on product inventories and crack spreads. Investors can explore more updates, prices, and analysis across global markets at Commodities.