Global oil prices dip 2% as U.S. inventories rise more than expected

Brent crude futures fell 2% to $82.40 a barrel on 7 November 2025 after U.S. Energy Information Administration data showed crude inventories increased 5.6 million barrels, exceeding forecasts. The build signalled slower-than-expected demand as refineries cut runs for seasonal maintenance. WTI futures settled near $78.10. Analysts said prices may remain under pressure until inventory draws resume or OPEC+ signals deeper production restraint. The U.S. dollar’s strength also weighed on commodities, reducing purchasing power for importers. Traders now await Chinese import data for further direction.