• Mon, Mar 2, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

26 February 2025 23:10  |

Oil Falls to Over 2-Month Low

WTI crude oil futures fell below $69 per barrel and Brent crude oil futures fell below $73 per barrel on Wednesday, nearing their lowest level since December 10, as rising supply concerns and a weaker demand outlook pressured prices.

Hopes for a potential Russia-Ukraine peace deal weighed on the market, as lifting Russian sanctions could increase global oil supply. The US and Ukraine also agreed on a draft minerals deal, a key step in President Trump’s push to quickly end the war. Additionally, fears that Trump’s tariffs on China and other trading partners could slow global economic growth added to concerns about future energy demand.

Meanwhile, EIA data showed US crude inventories fell by 2.33 million barrels last week, defying expectations of a build. However, stocks at the Cushing, Oklahoma hub rose by 1.2 million, alongside increases in gasoline and distillate inventories.

Source : Trading Economics

Related News

OIL

Oil Continues Gains as Lower Russian Flows Offset Trump Tar...

Oil extended its biggest gain in nearly four weeks as tighter Russian crude supplies overshadowed concerns about the impact o...

11 February 2025 14:35
OIL

Oil Drops as Dollar Surges After Rate Cut

Oil fell as expectations for fewer interest-rate cuts by the Federal Reserve next year boosted the dollar. February West Te...

19 December 2024 07:12
OIL

Oil Drops as Trade War Fears Compete with Pressure on Iran

Oil prices steadied after falling on concerns that the U.S.-China trade war would hurt global growth, offset by President Don...

5 February 2025 07:04
OIL

Oil Near Lowest Level of Year as Trump Weighs on Sentiment

Oil steadied near its lowest level of the year as U.S. President Donald Trump’s geopolitical position and the threat of tar...

6 February 2025 13:43
BIAS23.com NM23 Ai