Oil prices dip as rising U.S. inventories offset supply concerns from Middle East tensions

Global crude oil prices fell 0.8% to $84.2 per barrel after U.S. inventory data showed larger-than-expected stock builds, easing fears of supply shortages. Traders shifted focus to U.S. demand recovery and OPEC output policies. Analysts noted geopolitical tensions in the Middle East remain a moderating factor but are not currently driving sharp price spikes. The decline follows a week of volatility, with Brent and WTI futures adjusting to global macroeconomic data and refining margins. Broader commodity indices also eased slightly in response.