NYMEX Overview: Oil Rebounds After Wednesday's Selloff — OPIS

Crude oil contracts were trading higher around midday Thursday as the petroleum market regained its footing after the previous session's steep losses driven by renewed oversupply fears.

At 12:05 p.m. ET, the more-active January NYMEX West Texas Intermediate crude futures were up by 30cts to about $58.80/bbl, and December WTI was 35cts higher to $58.85/bbl.

London-based January ICE Brent prices were up by 40cts to around $63.15/bbl and February Brent was 35cts higher to $62.80/bbl.

Both WTI and Brent finished almost $3 lower on Wednesday after OPEC said in its latest monthly forecast that global supply could catch up to demand by 2026.

Earlier Thursday, the Paris-based International Energy Agency in its monthly report raised its forecasts for global oil supply and demand for this year and 2026, which would result in even larger surpluses for both years.

Refined product futures were mixed. January NYMEX RBOB was up by 2.1cts to $1.909/gal and December RBOB was 2.6cts higher to $1.9815/gal. January ULSD, however, was down 1.3cts to $2.4245/gal and December ULSD was 1.4cts lower to $2.468/gal.

Petroleum futures did not show dramatic changes immediately following the release of the weekly data by the Energy Information Administration. The latest EIA data showed U.S. commercial crude oil stocks increased 6.4 million bbl for the week ended Friday, while gasoline and distillate inventory were both down by less than 1 million bbl.

In the spot market, U.S. Gulf Coast CBOB gasoline rose nearly 5cts ahead of a scheduling deadline later Thursday. Other cash products mostly mirrored changes in NYMEX futures.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

   --Reporting by Frank Tang, ftang@opisnet.com; Editing by Michael Kelly,   mkelly@opisnet.com 
 

(END) Dow Jones Newswires

November 13, 2025 12:46 ET (17:46 GMT)