SC Justices Share Light-Hearted Remarks on 26th Constitutional Amendment
Oil Prices Dip as US Stockpiles Surge, Demand Fears Grow
Oil prices slipped on Thursday as a surprise build in US stockpiles sparked concerns about slowing demand, but worries over potential disruptions to Middle East supplies capped losses.
US Crude Oil Inventories Jump 3.6 Million Barrels
The US Energy Information Administration reported a larger-than-expected increase in stocks, fueling fears of weakening demand.
Gasoline Demand Slumps, Product Supply Falls
US gasoline stocks rose by 2.7 million barrels, exceeding expectations, while product supplied for motor gasoline fell by 417,000 barrels per day, indicating sluggish demand.
Analysts Warn of Limited Upside, Weak Gasoline Demand
Experts believe the market’s upside is limited due to weak US gasoline demand, despite the peak summer driving season.
Gaza War Worries Support Oil Prices
Concerns about the potential expansion of the Gaza war and its impact on Middle East supplies are supporting oil prices, limiting declines.
Diesel Demand Sluggish in Europe and US
Diesel demand remains weak in both Europe and the US, leading to falling margins since last August.
Oil Prices in Tug-of-War Situation
The market is in a tug-of-war situation, weighed down by demand concerns but supported by worries over potential supply disruptions.
Crude Oil
Crude oil is also known as petroleum, and is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits. It is extracted from underground reservoirs. It is then refined into various products such as gasoline, diesel, jet fuel, and other petrochemicals used in industries worldwide.
