West Texas Intermediate (WTI) crude oil remains under pressure, trading below $68.50 as market sentiment sours over weak Chinese economic data and an unexpected rise in U.S. crude inventories. Investors are grappling with concerns that slowing demand in China, the world’s second-largest oil consumer, could further weigh on prices.
Adding to bearish momentum, the latest U.S. Energy Information Administration report revealed a surprise increase in crude stockpiles, defying expectations of a decline. The buildup has fueled speculation about softer energy demand heading into year-end, compounding worries over a sluggish recovery in global oil markets. Analysts suggest the combination of these factors could keep WTI capped in the near term.
