Oil Extends Gains as U.S. Stockpiles Fall Below Five-Year Average

U.S. crude oil inventories fell by 2.3 million barrels in the week ending January 24, according to the Energy Information Administration, bringing commercial stockpiles down to 423.8 million barrels, about 3% below the five-year seasonal average. The draw, which exceeded the smaller decline indicated by earlier American Petroleum Institute estimates, supported further gains in both Oil – US Crude and Oil – Brent Crude, while tighter balances and inventory trends also underpinned sentiment in Natural Gas, as markets reassessed supply-demand dynamics at the start of the year.

Over the past month, Oil – US Crude has advanced about 8.18%, while Oil – Brent Crude is up roughly 9.03%, reflecting improving risk appetite and expectations of a more balanced physical market. Natural Gas has outperformed both, climbing approximately 21.06% over the same period, suggesting heightened volatility and sensitivity to weather and storage conditions. From a short-term technical perspective, 1-day signals currently indicate a Buy stance for Oil – US Crude, a Buy signal for Oil – Brent Crude, and a Buy indication for Natural Gas, pointing to ongoing bullish momentum despite the recent price run-up. Investors can explore more updates, prices, and analysis across global markets at Commodities.