0921 ET - Oil futures are lower for a third straight session as the recent geopolitical boost recedes and focus is back on supply and demand. Ritterbusch sees "nothing significantly bearish" about yesterday's EIA report of U.S. crude and product inventory builds, "especially when the non-representative West Coast region was excluded." What is bearish for oil is the monthly production increase of more than 400,000 barrels a day from OPEC+, which "will become even more negative once the boost in OPEC supply becomes more transparent," the firm adds. WTI and Brent are both down 1.3% at $60.75 and $64.05 a barrel, respectively. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 22, 2025 09:21 ET (13:21 GMT)
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