Oil Prices Show Resilience Amid Market Fluctuations

Crude oil prices stabilize as U.S. stockpiles fall and inflation eases, with mixed forecasts for future demand and supply.

West Texas Intermediate crude prices hover around $79 per barrel after recent declines.
Brent crude sees a slight increase, closing at approximately $83 per barrel.
U.S. crude oil inventories fell by 2.5 million barrels, indicating rising demand.
Slower inflation in the U.S. boosts expectations for a potential interest rate cut by the Federal Reserve.
Forecasts suggest oil prices will stabilize in the short term but may decline in 2025 due to a predicted supply surplus.