Oil slips as OPEC+ surprise and US inventories weigh on prices

David Morrison

SENIOR MARKET ANALYST

07 Oct 2025

Share this article on social

Related News

NEWS AND INSIGHTS

US markets surge as Trump hints at tariff breaks

NEWS AND INSIGHTS

Crude oil rises as US tariffs and OPEC+ cuts boost prices

NEWS AND INSIGHTS

Markets steady as data weakness raises questions

Crude oil was a touch weaker in early trade this morning. Yesterday, prices gapped higher from Friday’s close after OPEC+ announced an output increase, which was way lower than expected. This saw buyers rush in to take advantage of last week’s sell-off.

A combination of new supply, growing inventories in the US, evidence of Chinese stockpiling and the expectation of a large OPEC+ production increase weighed on prices throughout last week. This saw front-month WTI fall over 7%, dropping below support around $61.50 and coming within easy reach of $60 per barrel.

Prices recovered yesterday in a move which saw WTI get close to $62. But ultimately crude couldn’t hold on to these gains, and front-month WTI dropped back below $61.50 in a move which has encouraged fresh selling. The market looks finely balanced. The bulls will want to have another go at taking prices through $61.50, while the bears will try to drive WTI back below $60. 

Source: TN Trader


Suggested articles

See all

arrow-icon
Forex vs stocks — which is right for you?

Gain the edge

Sign up and unlock early
access to exclusive trading
insights and educational tips.

I confirm I am 18 years old or above.

By signing up to hear from us, you agree to our terms and privacy policy.

Please keep me updated on Trade Nation’s sponsorships, news, events and offers.

The markets are moving.

Start trading now.

Get started

arrow-icon

Trade on our
award-winning
platform


en-gb

Payment methods

Trade on

Regulatory bodies

UK - FCA

Australia - ASIC

Seychelles - FSA

Bahamas - SCB

South Africa - FSCA

Customer support

Sponsors of your favourite teams

The legal stuff

Financial Spread Bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Refer to our legal documents.

Trade Nation is a trading name of Trade Nation Financial UK Ltd, a financial services company registered in England & Wales under company number 07073413, is authorised and regulated by the Financial Conduct Authority under firm reference number 525164. Our registered office is 14 Bonhill Street, London, EC2A 4BX, United Kingdom.

Trade Nation is a trading name of Trade Nation Australia Pty Ltd, a financial services company registered in Australia under number ACN 158 065 635, is authorised and regulated by the Australian Securities and Investments Commission (ASIC), with licence number AFSL 422661. Our registered office is Level 17, 123 Pitt Street, Sydney, NSW 2000, Australia.

Trade Nation is a trading name of Trade Nation Ltd., a financial services company registered in the Bahamas under number 203493 B, is authorised and regulated by the Securities Commission of the Bahamas (SCB), with licence number SIA-F216. Our registered office is No. 3 Bayside Executive Park, West Bay Street & Blake Road, Nassau, New Providence, The Bahamas.

Trade Nation is a trading name of Trade Nation Financial Markets Ltd, a financial services company registered in the Seychelles under number 810589-1, is authorised and regulated by the Financial Services Authority of Seychelles (FSA) with licence number SD150. Our registered office is CT House, Office 6B, Providence, Mahe, Seychelles.

Trade Nation is a trading name of Trade Nation Financial (Pty) Ltd, a financial services company registered in South Africa under number 2018 / 418755 / 07, is authorised and regulated by the Financial Sector Conduct Authority (FSCA), with licence number 49846. Our registered office is 19 9th Street, Houghton Estate, Johannesburg, Gauteng, 2198 South Africa. 

The information on this site is not directed at residents of the United States or any particular country outside the UK, Australia, South Africa, The Bahamas or Seychelles and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

© 2019-2025 Trade Nation. All Rights Reserved