While the broader sector struggled, Eos Energy Enterprises bucked the downward trend. The company’s shares climbed following the announcement of an exclusive partnership focused on long-duration battery storage, a move designed to facilitate its expansion into the German market.

Inventories continue to tighten, signaling a constrained supply environment. U.S. commercial crude oil stocks dropped by 8.3 million barrels to 418.2 million barrels for the week ending June 12, leaving levels roughly 6% below the five-year seasonal average. Meanwhile, ethanol production saw a slight contraction, with daily output dipping by 6,000 barrels to 1.1 million, even as inventories edged up marginally to 24.47 million barrels.