Crude Oil Prices Fall Over 1% to Two-Week Lows; Brent at $63.52

Written by: Akshay ShivalkarUpdated on: 6 Nov 2025, 2:59 pm IST

Brent crude settles at $63.52, down 1.43%, and WTI at $59.60, down 1.59%, as inventory build fuels oversupply concerns despite strong U.S. fuel demand.

Crude Oil Prices Fall Over 1% to Two-Week Lows; Brent at $63.52

Crude oil prices declined more than 1% on Wednesday, closing at two-week lows amid concerns of a global supply glut. However, stronger-than-expected U.S. gasoline demand helped limit losses.

Global Price Movement

Brent Crude Futures: Closed at $63.52 per barrel, down 92 cents or 1.43%
WTI Crude Futures: Settled at $59.60 per barrel, down 96 cents or 1.59%

The decline followed U.S. government data showing a larger-than-expected build in crude inventories.

U.S. Inventory and Demand Data

Crude Stocks: Rose by 5.2 million barrels to 421.2 million barrels last week (vs. forecast of 603,000-barrel rise)
Gasoline Inventories: Fell by 4.7 million barrels to 206 million barrels (vs. expected draw of 1.1 million barrels)

The sharp drop in gasoline inventories indicates strong domestic fuel demand, partially offsetting bearish sentiment from crude stock builds.

Market Drivers and Geopolitical Factors

OPEC+ Decision: Group agreed to increase output by 137,000 barrels per day in December and pause further hikes in Q1 2026
Canada Policy: Budget plan signals potential removal of oil and gas emissions cap, raising supply concerns
Kazakhstan Output: Fell 10% to 1.69 million barrels per day, still above OPEC+ quota
Russia Update: Black Sea port of Tuapse suspended fuel exports; refinery halted crude processing after drone attacks

Conclusion

Crude oil prices eased on Wednesday as inventory builds reinforced oversupply concerns, while strong U.S. gasoline demand provided some support. With Brent and WTI at two-week lows and MCX crude trading lower, market focus remains on OPEC+ output strategy and geopolitical developments.

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Published on: Nov 6, 2025, 9:29 AM IST

Akshay Shivalkar

Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.

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