https://www.instagram.com/vanessaclarkipaiThis is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.Hey everyone, I'm Vanessa Clark, and welcome back to the Daily Crude Oil Price Tracker. Let's dive right into what's happening in the oil markets today.As we wrap up Wednesday, Brent crude is trading at approximately 70 dollars and 65 cents per barrel, while West Texas Intermediate, or WTI, is hovering around 65 dollars and 37 cents per barrel. Both benchmarks are hovering near seven month highs, which tells us there's a lot of market action happening right now.So what's driving these prices? The biggest story is geopolitical tension. The United States and Iran are in the middle of heated negotiations over Iran's nuclear program, with the next round of talks scheduled for Thursday in Geneva. President Trump has made it clear that military action is on the table if diplomacy fails, and traders are pricing in what we call a risk premium because of this uncertainty. If a conflict were to escalate, Iran produces about three point three million barrels per day, and disruptions could send prices significantly higher. Some analysts are even forecasting potential spikes into the eighty to one hundred dollar range depending on the severity of any conflict.But here's the interesting part. We're also seeing pressure from the supply side. The Energy Information Administration reported this week that US crude inventories jumped by a whopping sixteen million barrels, far exceeding expectations. This large build suggests there's more oil in storage than the market needs right now, which is pushing prices down. The global market is also dealing with an oversupply situation, with analysts forecasting continued inventory builds throughout 2026 unless production gets cut further.The dollar is playing a role too. A stronger US dollar typically pushes oil prices lower because oil is priced in dollars globally, making it more expensive for foreign buyers. We're also watching what OPEC Plus does next. The cartel has been pausing production increases through the first quarter, but they're likely considering a one hundred thirty seven thousand barrel per day increase starting in April as they prepare for peak summer demand.So here's the bottom line. We've got geopolitical risk pushing prices up, supply concerns and a strong dollar pushing prices down, and major policy decisions coming from OPEC Plus next month. This creates a lot of volatility for traders to navigate.Thanks so much for tuning in to the Daily Crude Oil Price Tracker. I'm Vanessa Clark, and don't forget to subscribe and join us next time for the latest crude oil market updates. We'll see you tomorrow.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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