Petrol Prices Fall with Stock Increases: Uncertainty in the Markets

Declining Trend in Petrol Prices

According to the latest sector report published in the USA, the increase in crude oil and fuel inventories has led to a pullback in oil prices. Fears that demand will not outstrip supply have increased concerns among investors, resulting in a downward trend in oil prices.

Brent and WTI Oil Prices

Brent oil, which gained 1.1% yesterday, is trading at 64.66 dollars this morning, down by 0.35%. Similarly, West Texas Intermediate (WTI) oil has decreased to 60.55 dollars after a 1.4% rise yesterday, declining by 0.33%. This negative situation is increasing uncertainty in the markets.

Inventory Increases and Weak Demand

According to data released by the American Petroleum Institute, crude oil inventories in the USA increased by 4.45 million barrels in the week ending November 14. During this period, gasoline inventories rose by 1.55 million barrels, while distillate stocks increased by 577 thousand barrels. According to Haitong Futures' assessment, this increase further supports the weak consumption and the declining trend in oil prices.

Expectations for Investors

As the day progresses, the official data from the US Department of Energy is expected to be released. Experts anticipate that crude oil inventories may have decreased by only 600 thousand barrels. This situation stands out as a development that market investors are closely monitoring.

Geopolitical Factors and Market Responses

Yesterday, oil prices found some support due to the US sanctions on Russian oil exports and Ukraine’s attacks on Russian refineries. However, analysts indicate that the ongoing production exceeding demand will continue to apply downward pressure on prices. This situation brings forth geopolitical dynamics that investors need to closely follow.