The post WTI extends the decline to near $60.00 on rising US inventories appeared on BitcoinEthereumNews.com.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.00 during the Asian trading hours on Wednesday. The WTI extends its downside amid a significant increase in US crude inventories. Traders will keep an eye on the US Energy Information Administration (EIA) crude Oil stockpiles report later on Wednesday.  Data released by the American Petroleum Institute (API) on Tuesday showed that crude oil stockpiles in the US for the week ending October 31 climbed by 6.5 million barrels compared to a fall of 4 million barrels in the previous week. Crude oil inventories in the US are so far showing a net gain of 3.6 million barrels for the year, according to Oilprice calculations of API data. On the other hand, geopolitical risks might help limit the WTI’s losses. Traders will closely monitor attacks on Russian infrastructure after Ukrainian President Volodymyr Zelenskiy announced an intensification late last month. Kyiv claimed a strike on Lukoil PJSC’s refinery in Nizhny Novgorod province, which processes around 340,000 barrels a day of crude, mainly for domestic use. It has also targeted the Tuapse and Saratov plants over the past week. Any signs of rising escalation could boost the WTI price now.  WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. Like all assets, supply and demand…

---

Filed under: News - @ November 5, 2025 3:22 am