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This is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.

Hello and welcome to the Daily Crude Oil Price Tracker. I’m Vanessa Clark, and I’m here to keep you up to speed on the most recent news and developments in the world of crude oil, including today’s trading price and what’s moving the markets.

Let’s start with the latest numbers. As of this evening, October sixteenth, West Texas Intermediate, or WTI, is trading near fifty-nine dollars per barrel, and Brent crude futures are just below sixty-two dollars per barrel. These values mark some of the lowest levels we’ve seen in about five months, reflecting a turbulent period for the oil market.

So, what’s driving these moves? A big factor is the unexpected rise in US crude oil inventories. The American Petroleum Institute recently reported a significant build in crude stocks, and the US Energy Information Administration also confirmed a multi-million barrel increase this week. When supply piles up like this, it often pressures prices downward, because it signals weaker demand or simply too much oil sloshing around in the market.

On the global stage, geopolitical tensions are adding to the uncertainty. US President Donald Trump made headlines by claiming that Indian Prime Minister Narendra Modi had agreed to halt purchases of Russian oil, in response to new US tariffs against Indian goods. However, India has publicly pushed back, denying any such commitment and characterizing the situation as more complicated—so while traders initially reacted with concern about tightening supplies, the news was quickly tempered.

Meanwhile, OPEC and its allies, known as OPEC plus, are in the midst of ramping up output after a year of deep cuts. This shift toward higher production is also contributing to the expectation that global supply may soon outpace demand, marking a change from earlier forecasts and keeping a lid on prices. The International Energy Agency is now projecting a global surplus for twenty twenty-six as not only OPEC plus, but also producers in the US, Brazil, and Canada bring new projects online.

So, what does all this mean for you? If you’re an energy consumer—think business owner, driver, or just someone paying electric bills—the current environment is likely to work in your favor, with stable or lower prices at the pump and for other petroleum products. But for investors and producers, it’s a market that requires caution, since oversupply and lower prices can squeeze profits.

Looking ahead, keep an eye on upcoming inventory reports, trade headlines, and decisions by oil-producing countries and organizations. These three pillars—supply data, demand trends, and geopolitical developments—shape the daily swings in oil prices we track on this podcast.

Before I sign off, here’s a practical tip: want to keep tabs on oil prices yourself? There are plenty of apps and websites that offer daily price updates and news, so you can be informed about crude oil’s ups and downs any time.

Thanks for tuning in to today’s episode of Daily Crude Oil Price Tracker with Vanessa Clark. If you found this useful, be sure to subscribe and join us again tomorrow for more updates, insights, and key takeaways on the oil market. Have a great evening and stay informed.

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