Oil prices fall on rising US crude stocks, hawkish Fed comments - Reuters https://t.co/mCGMNrxsV7
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Oil prices fall on rising U.S. crude stocks, hawkish Fed comments https://t.co/bHEb98DQhA
Oil prices experienced fluctuations over the past week, initially climbing due to concerns about supply and the impact of U.S. tariffs on metals. After three consecutive weekly declines, prices advanced nearly 2% as traders began to shake off tariff worries. However, reports of a significant increase in U.S. crude oil inventories, which rose by 9.4 million barrels, alongside a drop in gasoline stocks by 2.51 million barrels, led to a retreat in prices. The American Petroleum Institute (API) data indicated that distillates also fell by 590,000 barrels. The market remains cautious as the Federal Reserve signals a careful approach to interest rate cuts, further influencing oil price movements amid ongoing concerns regarding the trade policies of President Donald Trump.
