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Energy Preview: WTI crude oil futures drop over 1% in early Asia
13-Aug-2026 09:01

WTI crude oil futures slide over 1% in early Asian trades on Thursday, tracking a larger-than-expected build in US crude oil inventories. Crude oil stockpiles in the US for the week ending August 7 jumped by 17.422 million barrels, compared to an increase of 2.479 million barrels in the previous week. Meanwhile, market awaits clarity on re-opening of the Strait. US President Donald Trump reportedly said on Wednesday that Washington has total control over the Strait of Hormuz. Iran, however, reportedly pushed back on Trump's claim, insisting the critical waterway remains blocked. Fears of oil supply disruption could thus boost the WTI price in the near term. Currently, the counter is quoting at $82.19 per barrel, down 1.30% on the day while Brent futures are also lingering lower around $87.96 per barrel.

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