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WTI and Brent oil prices rise amid strong US GDP growth and mixed supply-demand signals.

Market News
30 Oct 2026, 17:07 WIB
FXEmpire
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Neutral
WTI and Brent oil prices rise amid strong US GDP growth and mixed supply-demand signals.

WTI crude oil prices are supported by strong US economic growth, with third-quarter GDP at 3.4%, but oil demand remains uncertain due to mixed inventory data. US crude production and exports have increased, helping to balance supply, while gasoline and distillate stock changes suggest complex consumption patterns. Brent crude depends on refinery throughput recovery and reliable supply chains, with global refinery runs expected to rise by year-end. However, demand forecasts show a potential decline in Q4 oil use globally, despite US growth. Technical analysis indicates WTI and Brent prices are in a buy-on-the-dip phase, with key resistance and support levels shaping near-term price movements.

Crude oil price trends provide context for the following Energy-sector data on Pluang. As of Oct 30, 2026 20:11 WIB, 51 of 79 priced Energy-sector US stocks rose while 25 fell. Notable movers include ENPH at USD 24.79 with a 1-day change of -4.16%, SEDG at USD 29.27 down 4.14%, and NXT priced at USD 76.77 with a 1-day change of -3.83%.

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