JPM | US Energy: WTI 5 Day Losing Streak, 70 SOH Crossings, Iraq Threatens OPEC+ Departure, Energy ETF Outflows $3bn, DXY Strength - Commodity OI YTD Lows, IPP & Metals/Mining Conference Takeaways, CMC: US Energy Sector Specialist Commentary Oil & Gas - Power - Metals & Mining - Renewables

Research evidence excerpt

JPM | US Energy: WTI 5 Day Losing Streak, 70 SOH Crossings, Iraq Threatens OPEC+ Departure, Energy ETF Outflows $3bn, DXY Strength - Commodity OI YTD Lows, IPP & Metals/Mining Conference Takeaways, CMC: US Energy Sector Specialist Commentary Oil & Gas - Power - Metals & Mining - Renewables

Brendan Henrici - Specialist Sales - US Energy AC North America Specialist Sales J P M O R G A Nbrendan.henrici@jpmorgan.com

J.P. Morgan Securities LLC 25 June 2026

JPM | US Energy: WTI 5 Day Losing Streak, 70 SOH Crossings, Iraq

Threatens OPEC+ Departure, Energy ETF Outflows $3bn, DXY Strength -

Commodity OI YTD Lows, IPP & Metals/Mining Conference Takeaways,

CMC

Brendan Henrici

+1 212 622 2729

brendan.henrici@jpmorgan.com

Key Highlights Today

• WTI 2nd Longest Losing Streak in 2yrs

• Kplr: SOH Crossings Rose to 70 Yesterday

• Iraq Threatens OPEC+ Departure

• Energy ETF Outflows 3rd Highest in 6yrs

• Dollar Strength - Commodity OI to YTD Low

• IPP Natural Resources Conference Takeaways

• Metals & Mining Conference Takeaways

• China Solar Installations Fall to 9mo Low

• CVX Venezuela Operations Continue Post Earthquake

• CMC F3Q

Access, Calls & Surveys:

• SAVE THE DATE: J.P. Morgan 2026 Natural Resources Conference: An Energy, Power, Renewables & Mining Event on

June 23-24, 2026 at the Intercontinental New York Barclay. Register here

• SAVE THE DATE: J.P. Morgan Global Energy Conference, Nov 30th-Dec 1st, in-person, London. The event will consist

of a two-day panel agenda addressing key macro, corporate and thematic topics across the energy value chain and a

comprehensive program of one-on-one/small group meetings with global C-suite executives representing leading Oil & Gas,

OFS, E&P, Utility, Renewable and Mining companies. Full details will follow.