Oil falls on weaker demand outlook and higher US stocks - Reuters
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- Oil prices dropped on a weaker demand outlook and higher US crude stockpiles, with Reuters flagging both factors as the drivers of the decline.
- Tanker rates through the Strait of Hormuz held firm even as oil's broader supply-response momentum lost steam, per Lloyd's List.
Why it matters: Traders are getting a split signal: softer demand and rising US inventories pushed oil lower, yet a global energy watchdog warned stockpiles are 'rapidly depleting' and Hormuz-related tanker rates stayed elevated — meaning the bearish price move coexists with bullish supply-risk signals that could reassert themselves.
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