On Tuesday, oil prices are declining due to pressure from concerns over escalating trade tensions. Market participants are worried about the impact of increasing friction between the US and EU on economic activity and fuel demand.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
The American Petroleum Institute (API) reported an unexpected increase in US crude oil inventories. For the week ending July 11, stockpiles rose by 19.1 million barrels. However, data from other sources, including Reuters, show a different picture.
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
Oil prices increased on Wednesday due to expectations of steady summer demand in the United States and China, the world's top oil consumers. Analysts at LSEG noted that growing vacation travel and industrial activity are supporting prices.
OPEC has kept its oil demand growth projections for 2025–2026 unchanged, anticipating a stronger global economy in the second half of the year despite ongoing trade tensions. The organization noted that robust refinery activity to meet seasonal travel demand should continue supporting fuel prices.
China's state-owned oil refineries are increasing production after finishing scheduled maintenance. According to Reuters, this is due to seasonal growth in energy demand in the third quarter, as well as the need to replenish depleted diesel and gasoline stocks.
According to Bloomberg, Russia’s seaborne oil exports averaged 3.23 million barrels per day (bpd) over the four weeks to July 13, which is a 3% increase from the period ending July 6. Flows reversed the previous week’s drop.
Energy Aspects reports that China's push to stockpile crude will help offset weaker commercial demand and keep overall oil imports steady. China could buy up to 140 million barrels of crude for its strategic fuel reserves, with deliveries scheduled for Q4 2025 and Q1 2026.
In June, China recorded its highest oil refining volume in nearly two years as domestic refineries ramped up operations after seasonal maintenance. According to Bloomberg, the surge was driven by national companies seeking to capitalize on favorable diesel market prices.
OPEC and its allies are ramping up oil output, anticipating very strong demand in the third quarter of 2025 followed by tight fuel supply-demand balance in subsequent months. The eight members of the alliance, including Russia, are ending years of production cuts meant to support oil markets.
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