Analysts predict a potential oil glut as unsold Middle Eastern oil barrels stack up. But some disagree, citing upcoming winter demand. Saudi Arabia expects to raise crude prices for Asia, indicating healthy demand. Backwardation in crude spreads counters glut predictions, suggesting a balanced market.

Russia imposes fuel export curbs, tightening supply amid Ukrainian attacks. Doubts about oil glut predictions persist, with strong global demand absorbing increased production. Western sanctions on Russia could boost prices. However, President Trump’s stance on oil prices tempers upward pressure.

Speculation about an oil glut persists despite market signals of healthy demand and seasonal trends. Reports of future sanctions and OPEC production growth announcements have had limited impact on prices. Analysts suggest the perception of excess supply may be premature. Investor reactions to headlines may not reflect the full market picture.

Read more at Yahoo Finance: Crude Traders Split on Whether the Glut Has Arrived