U.S. Energy Information Administration (EIA): U.S. oil production in August is expected to average 13.83 million barrels per day, a slight increase from 13.82 million barrels per day in July; the September average is expected to be 13.77 million barrels per day.

On Tuesday, following Federal Reserve Governor Waller’s call to consider a 50 basis point rate hike at the December meeting, this year’s FOMC rotating voting member Lorie Logan reiterated a hawkish stance, stating, "Given the current economic outlook, I believe at least two more rate hikes of 25 basis points each are needed. The pace of rate hikes this winter may be faster than what we have seen so far this autumn." On Tuesday, the two-year US Treasury yield jumped 19 basis points in a single day, reaching 4.74%.