Crude Oil Prices Dip Amid Geopolitical Tensions, US Stockpile Concerns

• West Texas Intermediate (WTI) crude oil prices fell by 1.31% to $59.57 per barrel.
• The decline was influenced by geopolitical tensions and an anticipated rise in US crude stocks.
• Production at Kazakhstan's Tengiz and Korolev oilfields was temporarily halted due to power issues, but this is expected to be short-lived.
• US President Donald Trump's comments on Greenland and potential tariffs added to market uncertainty.
• Analysts predict an increase in US crude oil and gasoline stocks, with EIA data due Thursday.

Why It Matters: Crude oil prices are falling due to geopolitical concerns and expected increases in US oil inventories.