Current oil market situation: Brent crude: Dropping toward $72/barrel West Texas Intermediate (WTI): Near $68/barrel Weekly loss: >2% for Brent Factors pressuring oil prices: Strengthening US dollar (at 2-year high) Concerns about potential 2025 market surplus Slowing demand growth in China Increasing global output International Energy Agency (IEA) outlook: Expects oil surplus in 2025 Predicts slowing demand growth in China Warns of larger glut if OPEC+ revives halted production Market influences: Trump's election victory boosting dollar Middle East tensions Chinese industrial production data (upcoming) US oil inventory changes US oil inventory data: Crude stockpiles: +2.1 million barrels last week Gasoline draw: -4.4 million barrels Gasoline stocks at decade low for this time of year #OilPrices #CrudeOil #WTI