{"id":111148,"date":"2025-01-29T13:47:54","date_gmt":"2025-01-29T09:47:54","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=111148"},"modified":"2025-01-29T13:47:57","modified_gmt":"2025-01-29T09:47:57","slug":"oil-prices-decline-as-u-s-stockpiles-rise-libya-supply-fears-ease","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-decline-as-u-s-stockpiles-rise-libya-supply-fears-ease\/01\/29\/market-updates\/","title":{"rendered":"Oil Prices Decline as U.S. Stockpiles Rise, Libya Supply Fears Ease"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Oil prices fell on <strong>Wednesday<\/strong>, pressured by a build-up in <strong>U.S. crude inventories<\/strong> and reduced concerns over <strong>Libyan supply disruptions<\/strong>. Investors are also closely monitoring <strong>potential U.S. tariffs<\/strong> on <strong>Canadian and Mexican oil imports<\/strong>.<\/p>\n\n\n\n<p>As of <strong>0916 GMT<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent crude futures<\/strong> declined <strong>$0.59 (-0.76%)<\/strong> to <strong>$77.90 per barrel<\/strong>.<\/li>\n\n\n\n<li><strong>U.S. West Texas Intermediate (WTI) crude futures<\/strong> dropped <strong>$0.55 (-0.75%)<\/strong> to <strong>$73.22 per barrel<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Key Market Drivers<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1. U.S. Tariff Threat on Canadian &amp; Mexican Oil<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>White House confirmed<\/strong> that <strong>President Donald Trump<\/strong> still intends to impose <strong>25% tariffs<\/strong> on <strong>Canadian and Mexican imports<\/strong> starting <strong>Saturday<\/strong>.<\/li>\n\n\n\n<li>Canada supplied the U.S. with <strong>3.9 million barrels per day (bpd)<\/strong> in <strong>2023<\/strong>, accounting for nearly <strong>50%<\/strong> of total U.S. crude imports.<\/li>\n\n\n\n<li>Mexico contributed <strong>733,000 bpd<\/strong>, according to <strong>Energy Information Administration (EIA) data<\/strong>.<\/li>\n\n\n\n<li>A tariff on these imports could disrupt North American energy markets, potentially leading to price volatility.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2. Rising U.S. Crude Inventories Weigh on Prices<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>American Petroleum Institute (API) data<\/strong> showed a <strong>rise in U.S. crude and gasoline stockpiles<\/strong>, suggesting weaker demand.<\/li>\n\n\n\n<li>The <strong>EIA\u2019s official inventory report<\/strong>, due at <strong>1530 GMT Wednesday<\/strong>, will provide more insights into the supply situation.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>3. Libya&#8217;s Oil Exports Running Normally<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Libya\u2019s National Oil Corporation (NOC)<\/strong> announced that export activity remains <strong>unaffected<\/strong> following negotiations with <strong>protesters<\/strong> who had threatened to halt loadings at a major oil port.<\/li>\n\n\n\n<li>This reassurance eased concerns over <strong>supply disruptions<\/strong> from the OPEC-member country.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>4. OPEC+ Meeting and Saudi Talks<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>OPEC+ Joint Ministerial Monitoring Committee (JMMC)<\/strong> is scheduled to meet on <strong>Monday<\/strong>, adding to market uncertainty.<\/li>\n\n\n\n<li><strong>Saudi Arabia\u2019s Energy Minister<\/strong> and several <strong>OPEC+ counterparts<\/strong> have engaged in discussions following <strong>Trump\u2019s call for lower oil prices<\/strong>.<\/li>\n\n\n\n<li>The market awaits any signals on <strong>potential production adjustments<\/strong> in response to <strong>global economic and political uncertainty<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Outlook<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Oil traders remain cautious<\/strong> ahead of the <strong>EIA stockpile data<\/strong> and <strong>OPEC+ policy signals<\/strong> next week.<\/li>\n\n\n\n<li><strong>U.S. tariff concerns<\/strong> could disrupt crude flows from Canada and Mexico, potentially reshaping the supply-demand balance.<\/li>\n\n\n\n<li><strong>Libyan stability<\/strong> has eased some immediate supply concerns, but <strong>geopolitical risks<\/strong> remain a key factor for price movements.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Wednesday, pressured by a build-up in U.S. crude inventories and reduced concerns over Libyan supply disruptions. Investors are also closely monitoring potential U.S. tariffs on Canadian and Mexican oil imports. As of 0916 GMT: Brent crude futures declined $0.59 (-0.76%) to $77.90 per barrel. U.S. West Texas Intermediate (WTI) crude futures &hellip;<\/p>\n","protected":false},"author":9,"featured_media":104249,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6936,6875,7534],"class_list":["post-111148","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil-prices","tag-russia","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=111148"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111148\/revisions"}],"predecessor-version":[{"id":111150,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111148\/revisions\/111150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/104249"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=111148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=111148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=111148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}