US crude oil stocks rose more than anticipated, weighing on WTI prices in early Asian trade.
West Texas Intermediate crude fell to $82.45 in early Asian trading Thursday after US oil inventories surged beyond expectations. The larger-than-forecast build pressured prices, signaling potential oversupply concerns.
Prior to the data, WTI had traded near $82.50, with market consensus anticipating a modest inventory increase. The sharper rise contrasts with recent draws and adds to bearish sentiment amid subdued demand outlooks.
Traders are also monitoring US-Iran negotiations, which could further influence supply dynamics if sanctions or export policies shift.