0927 ET - Crude futures are lower after four straight sessions of gains in which tariff optimism played a role. Oil markets have underperformed equities, which appear to be putting trade worries behind them, in part as oil markets have the additional worry of OPEC+ supply increases, Callum Macpherson of Investec says in a note. "Any souring in market views on trade discussions could challenge the recent rally," he adds. Analysts note as bearish the API's report of a 4.3 million barrel build in U.S. crude stocks as the market awaits EIA data, and OPEC keeps its demand growth estimates for 2025 and 2026 at 1.3 million barrels a day and 1.28 million b/d, respectively. WTI is off 1% at $63.03 a barrel, and Brent is off 0.9% at $66.02 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 14, 2025 09:28 ET (13:28 GMT)
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