Wednesday 13/Aug/2025 – 11:34 PM
I witnessed Oil prices A limited decline at the conclusion of trading today, Wednesday, August 13, after its losses, which exceeded 1% earlier in the session, were reduced, affected by a sudden increase in US crude stocks.
Oil reduces its losses despite the increase in American stocks
According to Reuters, Brent crude futures decreased 49 cents, or 0.74%, to record $ 65.63 a barrel upon settlement, while US crude contracts fell 52 cents, or 0.82%, to $ 62.65 a barrel.
The pressure on the market fell after the statements of the US Treasury Secretary, in which he indicated that President Donald Trump may use sanctions as a pressure card during his upcoming meeting with Russian President Vladimir Putin, to be held in Alaska next Friday.
Trump earlier was a warning to Moscow of the consequences if the Russian -Ukrainian war did not stop through diplomatic and political paths.
The US Energy Information Administration data showed that oil stocks increased 3 million barrels during the past week, to reach 426.7 million barrels, in contrast to analysts’ expectations of 275 thousand barrels. The net imports of the United States of crude also rose 699 thousand barrels per day during the week ending August 8.
John Koldov, a partner in “Ajin Capital” in New York, said that US crude exports are still below their usual levels, influenced by customs duties, warning that continued decline may increase the pressure on prices.
In another context, the International Energy Agency raised its expectations for the growth of oil supplies this year, but it reduced its expectations for global demand.
