{"id":112127,"date":"2025-02-20T15:34:00","date_gmt":"2025-02-20T11:34:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=112127"},"modified":"2025-02-20T19:07:21","modified_gmt":"2025-02-20T15:07:21","slug":"oil-prices-steady-after-recent-gains-u-s-crude-stockpiles-weigh-on-market","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-steady-after-recent-gains-u-s-crude-stockpiles-weigh-on-market\/02\/20\/market-updates\/","title":{"rendered":"Oil Prices Steady After Recent Gains, U.S. Crude Stockpiles Weigh on Market"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Oil prices were <strong>little changed on Thursday<\/strong>, as a <strong>rise in U.S. crude inventories<\/strong> pressured the market after prices had climbed to a <strong>near one-week high in the previous session<\/strong>.<\/p>\n\n\n\n<p>As of <strong>09:16 GMT<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent crude<\/strong> fell <strong>15 cents to $75.89 per barrel<\/strong>.<\/li>\n\n\n\n<li><strong>West Texas Intermediate (WTI) crude<\/strong> declined <strong>34 cents to $71.91 per barrel<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>U.S. Crude Stock Build Pressures Prices<\/strong><\/h3>\n\n\n\n<p>According to market sources citing <strong>American Petroleum Institute (API) data<\/strong>, <strong>U.S. crude stockpiles rose by 3.34 million barrels<\/strong> last week, exceeding analyst expectations of a <strong>2.2 million-barrel increase<\/strong>.<\/p>\n\n\n\n<p>Ole Hansen, an analyst at Saxo Bank, noted that <strong>the stockpile buildup contributed to oil\u2019s decline on Thursday<\/strong>.<\/p>\n\n\n\n<p>Traders now await <strong>official inventory data from the U.S. Energy Information Administration (EIA)<\/strong>, scheduled for release later in the day.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Supply Disruptions &amp; Market Uncertainty<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Russian Pipeline Exports Disrupted<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Caspian Pipeline Consortium (CPC) flows<\/strong>\u2014a major route for <strong>Kazakhstan\u2019s crude exports<\/strong>\u2014were <strong>cut by 30%-40% on Tuesday<\/strong> after a <strong>Ukrainian drone attack<\/strong> on a Russian pumping station.<\/li>\n\n\n\n<li>A <strong>30% reduction<\/strong> translates to a <strong>loss of 380,000 barrels per day<\/strong> in supply, based on <strong>Reuters calculations<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Uncertainty Over Iraq\u2019s Oil Flows<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Turkey<\/strong>, which handles <strong>Iraqi Kurdistan\u2019s crude exports<\/strong> through the <strong>Ceyhan port<\/strong>, said <strong>it had not yet received confirmation from Iraq<\/strong> about the <strong>resumption of exports<\/strong>.<\/li>\n\n\n\n<li>A restart could add <strong>300,000 barrels per day<\/strong> of additional supply to global markets, according to <strong>ING analysts<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Impact of U.S. Tariffs on Oil Demand<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Import tariffs announced by President Donald Trump\u2019s administration<\/strong> could weigh on oil prices by <strong>raising costs on consumer goods<\/strong>, potentially slowing <strong>global economic growth<\/strong> and reducing <strong>fuel demand<\/strong>.<\/li>\n\n\n\n<li>Additionally, <strong>weak demand from Europe and China<\/strong> continues to <strong>limit oil price gains<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>With a combination of <strong>supply disruptions and concerns over demand<\/strong>, <strong>oil markets remain volatile<\/strong>, as traders assess <strong>geopolitical risks and economic trends<\/strong> shaping future price movements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices were little changed on Thursday, as a rise in U.S. crude inventories pressured the market after prices had climbed to a near one-week high in the previous session. As of 09:16 GMT: Brent crude fell 15 cents to $75.89 per barrel. West Texas Intermediate (WTI) crude declined 34 cents to $71.91 per barrel. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":103776,"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-112127","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\/112127","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=112127"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112127\/revisions"}],"predecessor-version":[{"id":112128,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112127\/revisions\/112128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/103776"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=112127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=112127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=112127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}