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Oil Prices Slide as Rising U.S. Inventories and Strong Dollar Pressure Global Demand Outlook
Oil prices dropped as U.S. inventories rose and a stronger dollar dampened global demand, extending the broader market selloff and adding to energy sector volatility.
Crude benchmarks fell for the second consecutive session as global risk-off sentiment deepened. U.S. crude inventories unexpectedly rose last week, fueling demand concerns amid slowing economic momentum in key Asian and European markets. A strengthening U.S. dollar further weighed on commodity prices, reducing the attractiveness of oil for non-dollar investors. Analysts noted that broader equity weakness and fears of delayed rate cuts by major central banks have intensified volatility in energy markets.