Oil Prices Weaken, But Remain Rangebound as Solid Fuel Demand Offsets Rising Supply

fidelity
2025.11.12 13:51
portai
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Oil prices weakened but remained rangebound due to strong demand for refined products offsetting rising crude oil supply. WTI crude fell to $60.18 per barrel, while Brent oil dropped to $64.29. Robust supply from OPEC+ and American producers contrasts with reduced fuel supply from lower Russian exports. Demand may increase with the U.S. government reopening, potentially boosting energy spending. Traders await monthly forecasts from the Energy Information Administration and the International Energy Agency's report for insights on the expected global surplus.

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