Oil prices are rising amid indicators on US supplies falling

Oil prices have risen slightly after scoring its biggest decline in more than a month, with the continued impact of US sanctions on Russian flow, and an industrial report indicates a new drop in US stocks. The price of ‘Brent’ RU rose more than $ 80 after losing 1.4% on Tuesday, amid news about a temporary ceasefire between Israel and Hamas, while the West Texas spread to a level of less than $ 78. In a document from the American Petroleum Institute, seen by ‘Bloomberg’, reported that raw shares decreased by 2.6 million barrels last week. It will be the eighth decline if the government’s data is confirmed later Wednesday. The impact of sanctions on the market has begun with the effects of recent US sanctions that appear on the market, as Russian oil customers are increasingly turning to the OPEC+suppliers. Countries such as India have announced that they will prevent the oil tankers from dropping against the sanctions in the country’s ports. In China, government oil companies and large special refinery refineries began to buy consignments from the Middle East and other places in preparation for turmoil. Delivery costs have also increased, while the actual price patterns in the United States have also changed. The price of crude oil was a strong start for this year, as the recent US sanctions contributed to the profits strengthened by the coldest winter in the Northern Hemisphere, which led to a major demand for fuel heating and a constant decrease in US supplies. Fear of Trump’s fees, early progress in prices, with widespread expectations that prices will struggle in 2025, where supplies are expected to exceed demand, leading to a global surplus. In addition to the turmoil caused by US sanctions, traders are studying the effects of the second term of President -Openters Donald Trump at the White House, including the threat to impose customs definitions that could affect Canadian oil. Before introducing it on January 20, the domains of the heavy Canadian rivalry expanded, compared to the mediator “West Texas” rust. Expectations on market balances will be on the focal point on Wednesday, with the ‘Organization of Petroleum Exporting Countries’ (OPEC) and the ‘International Energy Agency’ for monthly expectations. The latest report issued by the US Energy Information Administration on Tuesday indicated that the expectations of a larger surplus were in 2026.