Oil Prices Continue to Drop as US Crude Stockpiles Surge Oil prices fell to near three-month lows as reports indicated rising US crude inventories, with Brent trading around $82 a barrel and West Texas Intermediate below $78. The American Petroleum Institute reported a 2.5 million barrel increase in stockpiles, contributing to market bearishness. The upcoming OPEC+ meeting will determine whether to extend supply curbs amid a contango market structure signaling increased supply. Despite geopolitical risks, such as recent drone strikes on Russian refineries, oil futures have weakened since mid-April. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts China Commands 80% of Global Solar Silver Supply Chain READ MORE Gold Demand Dips as Wedding Season Begins, Diamond and Gemstone Sales Rise READ MORE Gold Hits Record High: What's Next for the Bullion Market? READ MORE Mortgage Markets Shudder as Interest Rates Soar Past 7% READ MORE Former Treasury Secretary Calls for Scrapping 20-Year Bond READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment