Oil Prices Drop Amid US Inventory Rise, Russian Sanctions Loom
Update: 2025-11-20
Description
Oil prices experienced a significant drop recently, with WTI crude oil trading above fifty-nine dollars a barrel despite a two percent fall on Wednesday. This decline was due to increased fuel inventories in the US and anticipation of upcoming sanctions against Russian oil producers Rosneft and Lukoil, set to begin on November twenty-first. The sanctions have already caused disruptions in crude oil shipments, particularly to countries like India. Despite a decrease in US crude oil stockpiles, the surplus expectation and geopolitical tensions continue to impact oil prices.
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