Gulf Insider
Oil prices pulled back in Asian trade Wednesday, reversing a three-session climb as markets took stock of shifting demand cues and persistent worries about global economic growth. As of 11 am Tokyo time, both major benchmarks were softer, with traders digesting mixed signals from economic data and ongoing geopolitical developments. The retreat follows a run of gains earlier this week that had been supported by supply concerns and optimism about sustained fuel demand. Brent crude futures lost 73 cents, or 0.73%, to trade at $107 a barrel at 0051 GMT, and U.S. West Texas Intermediate futures fell 62 cents, or 0.61%, to $101.6 at 11am Tokyo time on Wednesday (May 13, 2026). Analysts said the sell-off reflects a combination of factors: • Technical profit taking after oil’s recent ascendancy, as Brent and West Texas Intermediate had climbed steadily in prior sessions. • Signs of softer demand in key markets, especially parts of Asia. Recent purchasing figures from China — the world’s largest crude importer — showed slower fuel demand growth than expected, prompting some traders to reassess near-term consumption forecasts. • Mixed inventory data in the United States, where weekly stock reports showed inventories remaining above seasonal norms despite draws in some categories. That lessened […]
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