U.S. government data showed a sharp 16 million-barrel build in crude inventories to 435.8 million barrels last week, alongside higher distillate stocks and a draw in gasoline, signaling mixed demand and supply dynamics. The surprise crude increase may temper near-term upside for Oil – US Crude and Oil – Brent Crude, while shifting product balances could influence refinery margins and crack spreads.
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Over the past month, Oil – US Crude has gained about 9.7%, and its 1-day technical stance is Buy despite the inventory build, suggesting traders still anticipate tightness or resilient demand. Oil – Brent Crude is up roughly 10.1% in a month with a 1-day Buy signal, while Natural Gas has dropped about 43.0% over the same period and screens as a 1-day Strong Sell, reflecting persistent bearish sentiment in gas markets.
Investors can explore more updates, prices, and analysis across global markets at Commodities.