Crude oil futures are struggling to move above $67 due to mixed signals in the market, reflecting strong refinery activity and inventory issues.
Crude oil prices continue to hover near their lows, with potential increases in Russian exports and subdued global demand possibly exerting downward pressure.
Crude oil futures showed some support due to a larger-than-expected drawdown in distillate inventories and expectations of eased interest rates by the Federal Reserve.
Crude oil futures are seeing some recovery as geopolitical tensions in Eastern Europe continue, though uncertainties around Russian oil supplies and global demand are complicating the market.
Crude oil futures have begun to stabilize following two days of decline, largely due to geopolitical events that are impacting supply levels significantly.