Oil futures saw a decline as a result of a stronger U.S. dollar and a surprising increase in crude inventories, signaling potential lower demand and affecting prices.
Trump's potential return to power may tighten sanctions on Iranian oil; however, his emphasis on boosting domestic production might negatively impact global oil demand over the long term.
The increase in U.S. crude inventories reported by the American Petroleum Institute points to weaker demand, contributing to a bearish perspective on crude oil prices.
Overall, the current market indicators suggest a bearish outlook for global crude prices due to the combined influence of a stronger dollar and rising inventory levels.
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