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📰 World Oil Price Latest News (November 24, 2025)
Global oil prices are generally trading lower, extending losses from the previous week, as markets weigh oversupply concerns against geopolitical risks.
Current Benchmark Prices (Approximate)
Brent Crude: Trading around $62.40 per barrel.
WTI Crude: Trading around $57.90 per barrel.
Note: Prices are slightly down for the day and have declined significantly over the past month.
Key Market Drivers
Oversupply and Russian Crude: Prices have been pressured by speculation about a Russia-Ukraine peace framework, which could eventually reintroduce substantial volumes of currently stranded Russian crude into global circulation. Russian seaborne exports have also remained resilient despite sanctions, adding to supply.
China Demand Slowdown: While China's crude imports have been high, analysts suggest this is primarily driven by strategic stockpiling (with reserves estimated over 1.3 billion barrels) rather than strong end-user consumption. Weak industrial and logistics demand signals a potential future inventory overhang that could suppress prices further.
US Supply: Continued record-level crude oil production in the United States and increasing US crude oil inventories reinforce the narrative of abundant global supply.
The market remains in a volatile balancing act between strong supply indicators and the ever-present risk premium from geopolitical tensions.
Would you like a more detailed breakdown of a specific factor, such as the impact of the peace talks or China's demand?
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