International Oil Prices Fall as U.S. Crude Inventories Far Exceed Expectations, WTI Down 0.3%

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International oil prices extended their decline for a fourth consecutive session.

With risk premiums easing ahead of nuclear negotiations between the United States and Iran, oil prices faced downward pressure as U.S. crude inventories rose far more than expected and major oil-producing countries were reported to be considering resuming output increases starting in April.

On the 25th (U.S. Eastern Time), West Texas Intermediate (WTI) crude for April delivery on the New York Mercantile Exchange fell $0.21 (0.32%) from the previous session to settle at $65.42 per barrel.

The U.S. Energy Information Administration (EIA) announced that commercial crude inventories surged by 15.98 million barrels as of the 20th, far exceeding market expectations of a 1.8 million-barrel increase.

Reports that OPEC and its allies, known as OPEC+, are considering resuming production increases from April also weighed on prices.

Foreign media reported that OPEC+ is likely to consider increasing output by 137,000 barrels per day starting in April. OPEC+ is scheduled to hold a meeting on March 1.

After reflecting these factors and showing a stronger selling bias, the oil market is now focusing on the upcoming nuclear talks between the United States and Iran.

The United States and Iran will resume nuclear negotiations in Geneva, Switzerland, on the 26th. Iranian Foreign Minister Abbas Araghchi expressed optimism, saying that “an agreement is within reach,” while U.S. President Donald Trump distanced himself in a State of the Union address the previous day, stating, “I have not yet heard that Iran is giving up its nuclear ambitions.”

This article is for informational purposes only and does not constitute investment advice.