US commercial crude inventories dropped to 412.5 million barrels by October 16, signaling tighter supply despite a rise in Cushing stocks. Domestic production fell by 410,000 barrels per day, while imports also declined, contributing to the drawdown. Gasoline stocks decreased but distillate inventories rose, indicating mixed demand patterns. WTI crude trades near $99.45, testing $100 resistance, supported by geopolitical risks including US diplomatic moves in Saudi Arabia. Brent crude also rose toward $112 amid US sanctions on Iranian shipping, with supply disruptions and transport risks influencing market dynamics. Traders watch upcoming inventory reports and geopolitical developments for further direction.
The story on WTI crude testing $100 comes with Pluang's market snapshot as of Oct 22, 2026 20:31 WIB: out of 150 priced US stocks, 56 rose and 93 fell. Among notable movers, AMD fell 5.56% to USD 522.00 with a strong buy interest at 84%, while MRVL dropped 5.55% to USD 231.18 with more sell activity at 58%. META declined 4.96% to USD 662.90, showing 68% buy orders and the longest typical hold time of 128 days on Pluang.
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