Oil held a decline as an industry report pointed to a build in US crude stockpiles, while geopolitical concerns continued to fester.
Oil prices held a decline due to a reported increase in US crude stockpiles and ongoing geopolitical tensions involving Iran, Russia, and Ukraine. Concerns about potential Israeli retaliation against Iranian crude facilities and rising US inventories are weighing on the market, while OPEC+ prepares to increase production amid escalating trade frictions and weak Chinese consumption.
