Oil prices fall despite indicators on the shrinking supplies

Oil prices have dropped, after providing a large technical index resistance to the subsidized height with continuous signals on the narrow US RU offer. Brent ruol decreased March to close 76.16 dollars a barrel, while the West Texas futures fell by more than 1% to establish less than $ 74 a barrel, after its rise earlier near the moving average for 200 days at about $ 75,48. The inability of the US crude oil to penetrate the technical level, which has been a price ceiling since October, has driven prices to stability at less than two dollars than the highest level during the session. Despite the decline, the basic oil is even more now markets. The government’s data released on Wednesday showed that US crude shares fell by 959 thousand barrels last week, which is the seventh decline in a row, and the longest series of declines in three years. Traders are also preparing for cold weather in the United States, which strengthened the demand for fuel heating and increased the risk of freezing in production areas. “The early indicators of the oil question indicate a strong start to January, due to the increase in the use of heating fuel in the Northern Hemisphere, due to cold weather.” They added: “We expect the average demand for oil to reach 101.4 million barrels per day for this month, which is an increase of 1.4 million barrels per day compared to the same period last year.” A warning of an abundance in the supply of oil prices achieved a strong start in 2025 as it came from a narrow series that lasted a few months, but many analysts still warn of the possibility of a plethora of supplies this year. The market is also preparing for a second presidential term for Donald Trump, with threats to set up strict sanctions against Iran and customs duties on China. Another reference to the narrow offer, Russian data, shows that the country’s oil production was less than the purpose of the production of the “OPEC+” coalition last month, after exports transferred by sea dropped to the lowest level since August 2023.