Crude oil prices waiver amid concerns on increasing supply

Crude oil prices are wavering as the market reacts to U.S. inventories. API’s figures are higher than expected. Investors’ focus is now on the EIA data scheduled for later today. Besides, differences within the OPEC+ cartel has heightened concerns about a possible increase in supply. WTI is trading at ~$44.34, which is lower than last week’s high of $46.27. Similarly, Brent is trading at $47.36. In the previous week, it had reached a high of $49. U.S. records higher-than-expected crude oil inventories The crude oil market is also reacting to the unexpected rise in the amount of crude oil held