Oil prices have dropped for the third consecutive day as U.S. crude inventories continue to rise, putting pressure on the global oil market. The latest data shows a significant increase in crude stockpiles, leading to concerns about oversupply and weakening demand.
The ongoing trend of falling oil prices is largely attributed to the surge in U.S. crude inventories, which have been growing steadily in recent weeks. This increase in supply has outweighed any positive factors that could have supported oil prices, such as geopolitical tensions or production cuts by major oil-producing countries.
