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WTI Crude Oil Prices Slip on Rising Non OPEC Supply Forecasts

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Published: February 9, 2026

Supply Surplus Reality

The EIA's latest projection of a significant global oversupply for 2026 is starting to outweigh the 'war premium.' Without a direct escalation in the Middle East, traders are struggling to find a reason to hold long positions.

Refinery Utilization

High refinery utilization rates in the US have led to a build-up in product stocks, further dampening the immediate demand for crude barrels.