Crude oil futures have shown some stabilization, yet they may remain volatile due to renewed focus on supply disruptions tied to sanctions on Russian tankers.
The U.S. Energy Information Administration's forecast indicates that oil prices are likely to decline as supply is expected to outpace demand in the coming years.
Geopolitical concerns are providing some short-term support for crude prices, but the overall market sentiment continues to be cautious amidst this uncertainty.
A larger-than-expected decline in U.S. crude inventories as reported by the API suggests stronger-than-expected demand, potentially aiding the stabilization of global crude prices.
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