Key Highlights
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US commercial crude oil inventories rose by *.* million barrels, signaling increased supply.
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Strong refinery runs contrasted with softened manufacturing demand.
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Crude oil prices initially spiked on Iran tensions but later fell as conflict fears eased.
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Venezuelan crude oil export resumption added to supply expectations, pressuring prices.
Global crude oil prices fell in early January ****, pressured by growing stockpiles, divergent demand signals, and the shifting geopolitical climate. Germany Settle Brent crude oil in the first week of January dropped *.** percent week-on-week to USD **.** per tonne, as the market teetered between supply fundamentals and geopolitical tensions after rising supply from OPEC,s output cutback.
US commercial stockpiles of crude oil rose by *.* million barrels, suggesting a well-supplied market and putting a lid on prices, US Energy Information Administration data showed. At the same time, strong runs at United States refineries, **.* million barrels...
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