Refinery utilization rates have also dipped below 90%, suggesting that processing capacity is not being fully leveraged. 2% swing observed between the Asian trading session and European close.
WTI Crude Oil Price March 12 2026 Update: Geopolitical Tensions and Demand Pressures
This demand-side pressure is counteracting the bullish effects of supply constraints. Geopolitical Tensions Fuel Uncertainty Persistent conflicts in key production regions continue to act as a primary catalyst for price movement.
4% to trade near $78. Manufacturing PMIs falling below the 50-point threshold suggest reduced fuel consumption for transportation and logistics.
WTI Crude Oil Price March 12 2026: Geopolitical Tensions and Demand Concerns
Global Demand Concerns Economic data from major consuming nations indicates a slowdown in industrial activity, particularly in China and the Eurozone. Companies are increasingly directing funds toward low-carbon technologies, which may impact future supply volumes.
More About Oil price today march 12 2026
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