The change in API crude oil inventories in the United States recorded 3.618 million barrels in the week to May 5, the largest increase since the week of February 24, 2023.

U.S. Senate Minority Leader Mitch McConnell: U.S. President Joe Biden "missing" in debt ceiling talks.

Market news: U.S. President Joe Biden and congressional leaders began a meeting on the debt ceiling.

Market news: US House of Representatives Speaker McCarthy has left the Capitol for the White House. He said he hoped the president would be willing to negotiate.

Market news: Draft EU regulations propose stricter cybersecurity labeling requirements for Amazon, Google and Microsoft.

The Peruvian government said that copper production in Peru increased by 14% in March compared with February; zinc production fell by 16% compared with February.

The U.S. court ruled that in the lawsuit brought by E Jean Carroll against Trump, Trump was awarded $5 million in damages, including assault ($2 million) and defamation ($3 million).

Market news: The US approves the possibility of a $124.7 million sale of military equipment to Poland.

US Senate Minority Leader Mitch McConnell: US President Biden needs to negotiate a spending agreement with US House Speaker McCarthy.

U.S. Senate Minority Leader Mitch McConnell: The previous debt ceiling agreement was related to the spending agreement.

According to the Associated Press: U.S. regulators have approved the construction of a spent nuclear fuel processing facility in New Mexico.

Fed Williams: Part of the credit crunch goes beyond the (impact) of Fed rate hikes.

According to the Punchbowl reporter, the Speaker of the US House of Representatives McCarthy said that a debt ceiling agreement needs to be reached in principle before next week.

Brent crude oil increased to 1.00% within the day and is now at $77.32 per barrel.

European Central Bank executive member Schnabel: core inflation rate has not reversed like headline inflation rate.

White House: Wants to make sure we eliminate the threat of default.