West Texas Intermediate (WTI) prices surged past $68.50, fueled by an unexpected drop in U.S. crude inventories. The latest data revealed a significant decline in stockpiles, exceeding market forecasts and sparking renewed optimism in oil demand recovery.
This surprising inventory draw comes as markets weigh the impact of slowing global economic activity against resilient U.S. consumption. Analysts highlight that the sharp reduction could signal tighter supply conditions heading into the winter season. The rebound in WTI underscores the market’s sensitivity to supply disruptions, with traders closely monitoring geopolitical tensions and OPEC+ production cuts for further cues.
