November 19, 2025
Crude oil prices declined further on Wednesday in the global commodity market, after industry data pointed to weakening demand by the the world’s largest oil consumer, the USA.
International benchmark Brent crude was trading at 0.4% down at $64.30 per barrel, as against the previous close of $64.58. US benchmark West Texas Intermediate, WTI, also decreased by about 0.4% to $60.45, compared to the previous $60.68.
The downturn followed figures from the American Petroleum Institute, API, which showed US commercial crude inventories rising by 4.4 million barrels last week. Gasoline stocks climbed 1.55 million barrels, while distillate inventories increased by 577,000 barrels over the same period.
Official data will release later in the day by the US Energy Information Administration, EIA.
Traders have remained focused on supply-side risks, despite swelling inventories, particularly those linked to Russia. Under US sanctions targeting major Russian producers Rosneft and Lukoil, global companies must sever business ties with the two firms by Nov. 21.
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According to the US Treasury Department the sanctions are already squeezing Russia’s oil revenues and are expected to curb its export volumes over time, prompting some Chinese and Indian buyers to seek alternative suppliers.
Meanwhile analysts have warned that global oil output continues to exceed demand a factor that is also weighing on prices.
Following Ukrainian strikes on Russian energy and port infrastructure that disrupted fuel flows, diesel refining margins in Europe have surged to their highest level since September 2023, a spike that reflects a broader upswing in refinery profitability worldwide.
