Oil Prices Fluctuate Amid OPEC+ Production Cut Speculations and US Stockpile Increase

As OPEC+ deliberates extending production cuts, a significant rise in US crude stockpiles and ongoing Middle East tensions add layers of complexity to the global oil market.

OPEC+ is expected to extend its production cuts through at least the second quarter, potentially affecting oil prices globally.
US crude stockpiles have seen a significant increase, raising concerns about demand amidst a slow economy.
Middle East tensions, particularly on the Israel-Lebanon border and Houthi attacks in the Red Sea, continue to impact the oil market.
Investor sentiment is influenced by the prospect of delayed US rate cuts, adding pressure to oil demand.
The conflict in the Middle East, including the situation in Gaza, remains a critical factor for oil prices.