WTI crude prices gain momentum as Japan signals an end to strategic reserve releases, tightening the supply outlook amid global energy market volatility.
Japan's statement that it will not release further oil reserves reduces potential supply, supporting oil prices.
Crude oil prices find support after Japanese Chief Cabinet Secretary Minoru Kihara confirmed the nation has no plans for additional strategic reserve releases. The decision follows previous supply injections, signaling a shift in policy despite ongoing G7 coordination efforts regarding global energy security.
The decision reduces the expected volume of crude entering the market, which tightens supply and provides upward pressure on WTI prices.