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 50-Point Rate Cut Back on the Table — Gold Hits Record Highs READ MORE U.S. Consumer Debt Hits $17.1 Trillion READ MORE Sprott CEO Sees Potential for 66% Price Jump READ MORE Fed Poised for Rate Cut Shift: Economic Boost or Cautious Approach? READ MORE Zimbabwe's ZiG: ZiG Used to Pay for 40% of Transactions READ MORE Add a Comment Cancel replyYour email address will not be published.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