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Crude Oil Prices Fell On Surging U.S. Stockpiles.

Crude oil prices experienced a decline of -0.6% yesterday, settling at 6776, primarily driven by surging U.S. stockpiles and indications that the OPEC+ group is unlikely to alter its output policy at an upcoming technical meeting. The Energy Information Administration (EIA) reported an increase in U.S. crude stocks and gasoline inventories, with crude inventories rising by 3.2 million barrels to 448.2 million barrels. Additionally, crude stocks at the Cushing, Oklahoma delivery hub surged by 2.1 million barrels.


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