US EditionOil falls as traders note jump in US crude stockpiles
- On May 14, 2025, Brent and U.S. West Texas Intermediate crude prices fell in global trading amid reports from Tokyo of rising U.S. Crude stockpiles.
- The price decline followed U.S.-China tariff reductions announced May 12 and expectations of a significant 3.5 to 4.3 million barrel crude build last week.
- The crude build contrasted with last week's large product draws, while analysts highlighted ongoing demand challenges amid cautious optimism from the trade war pause.
- Phillip Nova analyst Priyanka Sachdeva mentioned that hopes for a stronger market were limited due to anticipated large increases in U.S. Oil stockpiles, while UBS's Giovanni Staunovo pointed to profit-taking amid significant declines in refined product inventories.
- Oil prices fell despite recent rallies, signaling that rising supplies and inventory additions continue to limit gains amid persistent demand concerns and a stronger U.S. Dollar.
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Business RecorderOil falls as traders note jump in US crude stockpiles
LONDON :Oil prices fell on Wednesday as traders eyed a potential jump in U.S. crude inventories, while OPEC lowered its oil supply growth forecast for producers outside OPEC+. Brent crude futures fell 75 cents, or around 1.1 per cent, to $65.88 a barrel by 1206 GMT. U.S. West Texas Intermediate (WTI) crude sl
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