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05/11/2025 01:36 AST
Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months.
West Texas Intermediate held above $60, while Brent settled at more than $64 on Tuesday. US crude inventories rose 6.5 million barrels last week, according to a document from the American Petroleum Institute seen by Bloomberg.
That would be the biggest jump since July 25 if confirmed by official data later Wednesday.
Oil declined Tuesday after a global equities rally hit a speed bump and the greenback climbed to the highest in more than five months, weighing on crude and other dollar-denominated commodities.
WTI has fallen 16% this year as increased production from OPEC+ and non-member nations amplified concerns over a forming glut, although prices have rebounded somewhat after the US last month announced sanctions on Rosneft PJSC and Lukoil PJSC, Russia's two biggest producers.
Bloomberg
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 65.07 | 0.35 | 0.54 |
| WTI | 60.89 | 0.6 | 1 |
| OPEC Basket | 66.46 | 1.22 | 1.87 |
04/11/2025
The eight OPEC+ countries that previously announced additional voluntary adjustments in April and November 2023 - namely Saudi Arabia, Russia, Iraq, the UAE, as well as Kuwait, Kazakhstan, Algeria, a
Arab News
03/11/2025
OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in the first quarter of next year as the producers' group moderates plans to regain market share due to rising
Khaleej Times
29/10/2025
Oil prices slipped about 2% on Tuesday and were on track for a third straight day of declines as investors considered the impact of U.S. sanctions against Russia's two biggest oil companies on global
Reuters
28/10/2025
Oil prices eased slightly on Monday as OPEC's plans to increase oil output once again outweighed hopes of a trade deal framework between the U.S. and China and renewed U.S. sanctions on Russia.
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Khaleej Times
27/10/2025
Oil gained as progress between the US and China on trade boosted the outlook for energy demand and lifted risk assets.
Brent rose above $66 a barrel, after rallying almost 8% last week, whil
Bloomberg
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