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 Fed's Rate Cut Expectations Delayed as US Economy Proves Robust READ MORE Oil Prices Climb as Market Optimism Grows Amid Tightening Supply Signals READ MORE Navigating Gold's Volatility: The 2024 Surge and Its Implications READ MORE Crude Oil's Upward Momentum Stalls Amid Signs of Overbought Market READ MORE Gold and Bitcoin Surge: Signals Time for a New Gold Standard? READ MORE Add a Comment Cancel replyYour email address will not be published.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