Oil Steadies Near $62 Brent After U.S. Stock Build as Yemen and Russia Risks Linger

Overview

• Brent for February settled at $61.96 per barrel, down 0.03%, while WTI finished at $57.98, up 0.09%, keeping prices rangebound.
• U.S. crude inventories rose by 400,000 barrels last week, according to the EIA, reversing early-session gains in futures.
• Market focus stayed on Yemen after the Saudi-led coalition said it would counter separatist movements in Hadramout that threaten de‑escalation.
• Moscow alleged a Ukrainian drone strike on a northern presidential residence, a claim Kyiv rejected, as Russia signaled a tougher line on talks.
• A Reuters survey of Asian refiners pointed to a third straight month of Saudi cuts to February Arab Light prices to Asia, reflecting weak spot demand and ample supply.