<\/p>\n\n\n\n
Oil prices rose modestly on Wednesday after sliding to a one-month low in the previous session, though expectations of a growing supply glut and progress toward a Russia-Ukraine peace deal kept gains limited.<\/p>\n\n\n\n
Brent crude futures gained 28 cents (0.45%)<\/strong> to $62.76<\/strong> a barrel by 07:08 GMT, while U.S. West Texas Intermediate (WTI) futures climbed 26 cents (0.45%)<\/strong> to $58.27<\/strong>.<\/p>\n\n\n\n She added that the market remains \u201cfundamentally skewed to the downside,\u201d with traders increasingly pricing in an oversupplied 2026<\/strong> and seeing no strong demand catalyst<\/strong> to offset the trend.<\/p>\n\n\n\n Both Brent and WTI fell 89 cents<\/strong> on Tuesday after Ukrainian President Volodymyr Zelenskiy said he was ready to advance a U.S.-backed framework for resolving the war with Russia, noting only a few remaining points of disagreement.<\/p>\n\n\n\n IG analyst Tony Sycamore said a finalized peace deal \u201ccould rapidly dismantle Western sanctions on Russian energy exports,\u201d potentially pushing WTI toward $55<\/strong>.<\/p>\n\n\n\n \u201cFor now, the market waits for more clarity \u2014 but the risk remains tilted to the downside unless talks falter,\u201d he added.<\/p>\n\n\n\n U.S. President Donald Trump said he directed representatives to meet separately with Russian President Vladimir Putin and Ukrainian officials, while a Ukrainian official said Zelenskiy may visit the U.S. in the coming days to finalize a deal.<\/p>\n\n\n\n Adding to supply pressure, Western nations have recently tightened sanctions on Russia, while India \u2014 a key buyer of discounted Russian crude \u2014 is set to reduce purchases to their lowest level in three years<\/strong> in December.<\/p>\n\n\n\n Early industry data added mixed signals. U.S. crude stocks fell last week, while fuel inventories increased, according to the American Petroleum Institute. A Reuters poll had previously expected crude stocks to rise by 1.86 million barrels<\/strong> for the week ending Nov. 21. Oil has found some support from expectations that the Federal Reserve may cut interest rates in December<\/strong>, particularly after recent data showed weaker U.S. retail spending and softer inflation. Lower interest rates would support economic growth and potentially boost oil demand.<\/p>\n","protected":false},"excerpt":{"rendered":" Oil prices rose modestly on Wednesday after sliding to a one-month low in the previous session, though expectations of a growing supply glut and progress toward a Russia-Ukraine peace deal kept gains limited. Brent crude futures gained 28 cents (0.45%) to $62.76 a barrel by 07:08 GMT, while U.S. West Texas Intermediate (WTI) futures climbed …<\/p>\n","protected":false},"author":9,"featured_media":93837,"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":[38,6827,49,36],"tags":[],"class_list":["post-121197","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121197","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=121197"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121197\/revisions"}],"predecessor-version":[{"id":121204,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121197\/revisions\/121204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/93837"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=121197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=121197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=121197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Official figures from the Energy Information Administration (EIA)<\/strong> are due Wednesday at 10:30 a.m. ET (15:30 GMT).<\/p>\n\n\n\n