Global oil price today May 21 2025 Brent crude hits $66.43
According to webangah News Agency,international oil prices climbed over 1% in Wednesday’s trading session as supply disruption fears grew in the critical Middle East region.
North Sea Brent crude gained $1.05 (1.61%) to settle at $66.43 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 13 cents (0.21%) to $62.56.
Saudi Arabia, Kuwait, Iraq, and the UAE export their oil and fuel through the strategic Strait of hormuz.
simultaneously occurring, the American Petroleum Institute reported rising U.S. crude stockpiles alongside declining gasoline and distillate inventories last week.
The world’s largest oil consumer saw its crude reserves grow by 2.5 million barrels in the week ending May 16.
Separately, kazakhstan increased its May oil output by 2%, countering OPEC+ alliance pressure for production cuts from member states.
