14 Aug 2025
WTI tumbles to near $62.00 on oversupply concerns
WTI price extends the decline to near $62.15 in Thursday’s early Asian session.
Bearish EIA inventory report and IEA oil surplus forecast weigh on the WTI price.
Traders will closely watch the upcoming Trump-Putin meeting later on Friday.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.15 during the early Asian trading hours on Wednesday. The WTI declines to nearly a two-month low due to an unexpected increase in US crude oil supplies and a bearish oil surplus forecast by the International Energy Agency (IEA).
