"Oil Prices Dip Amid Surging US Fuel Inventories and Mixed Demand Signals"
Oil prices declined as concerns over weak US gasoline demand, indicated by surging stockpiles, overshadowed the impact of production issues in Libya. West Texas Intermediate (WTI) crude settled around $72 per barrel amidst market volatility. Rising inventories in Cushing, Oklahoma, contrasted with a drop in overall US crude supplies, while geopolitical tensions in the Middle East added to the complex market dynamics.