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Oil Prices Fall After Surprise US Inventory Build

By Markets Desk · 2026-09-16 · Updated 2026-09-16 05:45 UTC
A steel pipeline stretching across a sandy desert landscape.
Illustration: Tradingbird

Brent crude remains under pressure near $107.60 after US gasoline and distillate stocks also surged alongside the surprise crude build, overshadowing supply risks from the Houthi attack on Saudi infrastructure. Market nerves are further heightened by the postponement of Gulf-Iran diplomatic talks and continued disruptions in Libyan and Hormuz shipping lanes.

  • According to GN auto markets/energy data, the inventory build-out was broader than just crude, with US gasoline and distillate stocks also rising unexpectedly. Additionally, regional tensions have escalated as planned diplomatic talks between Gulf Arab states and Iran have been postponed, further clouding the supply outlook.

    Source: The Times of India

  • Brent crude dropped 1.02% to $107.64 as US inventories rose 7.1 million barrels, defying market expectations for a draw.

    Source: CNBC
Based on reporting by CNBC and The Times of India, compiled by the Tradingbird desk.

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