Oil Rises Slightly: Stocks & Supply Key
Wednesday, October 8, 2025 — Oil prices moved higher after a mixed US inventory report. Brent headed toward $66/barrel (December contract +0.6% to $65.82 at 8:09 a.m. Singapore time) and WTI (November delivery) rose 0.6% to $62.13. Brent was nearly flat the day before.
API data showed a 1.8 million barrel drawdown at the Cushing, Oklahoma, hub and a decline in product inventories such as gasoline. Nationally, crude oil stocks are expected to rise, but remain near seasonal lows. This means the physical market has not yet given a clear signal of easing—allowing price gains to remain robust.
However, supply-side pressures have not abated. OPEC+ continues to increase production to gain market share, while US output is projected to hit a record this year, supported by rising offshore supply. In Eastern Europe, Ukrainian drone attacks on Russian oil infrastructure have disrupted domestic processing and boosted Russian crude exports, with crude flows approaching 16-month peaks in the past four weeks.
ANZ analysts believe market participants are likely to ignore production increases until there is evidence of physical market easing through tangible inventory increases. As long as stocks don't rise sharply again, short-term sentiment could remain positive—but any sign of a surplus would quickly curb price increases. (asd)
Source: Newsmaker.id
