Cruising Through the Oil Glut: Your Daily Dose of Crude Realities

https://www.instagram.com/vanessaclarkipaiThis is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.Welcome back to the Daily Crude Oil Price Tracker. I am Vanessa Clark, and together we are going to walk through what is happening in the crude oil market right now and what it might mean for you.Let us start with the current trading price. According to Trading Economics, West Texas Intermediate crude oil is trading right around 59 dollars a barrel, after dipping about two tenths of a percent, with the latest quoted price at about 58 dollars and 82 cents per barrel. That puts crude oil down a little over 2 percent over the past month and more than 14 percent lower than this time last year, so we are clearly in a softer oil price environment.Aegis Hedging reports that the prompt month WTI contract was trading near 58 dollars and 78 cents earlier today, showing that prices are holding in a fairly tight band just under 59 dollars. DTN and other market trackers show similar levels, with January WTI futures hovering in the high 58 dollar range.So why are crude oil prices stuck under 60 dollars a barrel. Trading Economics notes that traders are focused on a growing risk of a supply glut in 2026, with both the International Energy Agency and OPEC expected to confirm a sizeable surplus in their upcoming reports. Aegis points out that the IEA has even warned about a potential record surplus next year as seaborne crude volumes continue to rise.Argus Media reports that OPEC plus has been gradually increasing production through 2025, and by November the core group had added more than two million barrels per day back into the market since April. At the same time, Bloomberg notes that Russia is pumping below its OPEC plus quota because of sanctions and infrastructure attacks, but that shortfall has not been large enough to offset the broader rise in global supply.Analysts quoted by Market Minute and others are already talking about a possible super glut in 2026, with surplus estimates as high as three to four million barrels per day. That kind of oversupply usually puts steady downward pressure on oil prices, especially if demand growth stays modest.From a technical standpoint, OneUp Trader’s recent analysis of crude oil futures shows prices capped below a resistance zone in the high 50s to around 61 dollars, while support has been holding in the mid 50s. In plain English, that means traders are seeing a range bound market, with crude oil chopping sideways rather than making a strong move higher or lower.So what can you do with all this information in your day to day life. If you are a consumer or run a small business that uses fuel, softer crude oil prices today can translate into lower gasoline, diesel, and heating costs over the next few weeks, although retail prices usually lag the futures market. It can be helpful to watch crude oil trends if you are planning a long road trip, managing a delivery fleet, or budgeting energy costs for your home or business.If you are an investor or trader, this kind of range bound crude oil market with a clear ceiling around 60 dollars and support in the mid 50s can offer short term trading opportunities, but it also carries risk. Many analysts expect continued volatility as the market digests central bank rate cuts, economic data, and fresh supply and demand forecasts from the major agencies. As always, make sure you size your trades carefully and never risk money you cannot afford to lose.For long term planners, the big theme right now is that the global oil market is moving into a period of ample supply. OPEC plus is losing some pricing power as non OPEC producers like United States shale and Brazil continue to grow. That does not mean prices can not spike on geopolitical events, but the baseline outlook tilts toward softer, not tighter, crude oil prices over the next year or two.That is it for today’s Daily Crude Oil Price Tracker with me, Vanessa Clark. Thanks for hanging out with me and keeping up with the latest crude oil price, market news, and what it all means for your wallet. Be sure to subscribe, share this with a friend who watches gas prices, and tune in next time for another daily update on the crude oil market.For more http://www.quietplease.aiCheck out Vanessa on Instagram https://www.instagram.com/vanessaclarkipaiFor some deals, check out https://amzn.to/4hSgB4rThis content was created in partnership and with the help of Artificial Intelligence AI

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