Brent oil prices rose slightly today, responding to a much larger-than-expected drawdown in US crude oil inventories of 6 million barrels, far exceeding analysts' estimates of 1.8 million barrels.
This stockpile decline indicates strong domestic demand, particularly from the transportation sector, as evidenced by jet fuel consumption, which averaged a four-week high. However, the market remains preoccupied with geopolitical risks and global supply pressures, including potential US tariffs on India related to Russian oil imports, which add to the fundamental uncertainty behind price movements.
Source : Newsmaker.id
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