Oil prices snap 3-day losing streak on US inventory surprise
Oil prices ticked up a bit on Wednesday, October 29, 2025, snapping a three-day losing streak.
The main reason? US crude and fuel stockpiles fell way more than expected.
But don't get too excited—ongoing tensions around Russia and talk of higher OPEC production held back any major price jumps.
Crude, gasoline, distillate stocks fall sharply
US crude inventories dropped by 4 million barrels last week—a much bigger fall than analysts guessed.
Gasoline and distillate supplies also shrank sharply, giving oil prices a short-lived boost.
Ongoing Russia-US tensions hold back price jumps
Even with the inventory surprise, worries about new US sanctions on Russian oil companies—and rumors that OPEC+ might pump out more oil soon—made traders cautious.
Indian refiners paused new Russian orders due to all the confusion, though Indian Oil says it'll stick to deals that follow the rules.