Overview

• U.S. crude inventories experienced a notable drop, supporting a brief uplift in oil prices.
• Mixed signals from the U.S. regarding stockpile levels contributed to fluctuating market sentiments.
• Geopolitical tensions and potential Fed rate cuts are influencing global oil price forecasts.
• Investor uncertainty remains as OPEC+ deliberates future production policies amid global demand shifts.
• Strengthening of the U.S. dollar is impacting oil prices, making purchases pricier for foreign investors.