Oil prices climb as U.S. stockpiles shrink

U.S. crude oil prices rose on Wednesday after new data showed a larger-than-expected drop in American oil inventories. The decline signals stronger demand or tighter supply in the world's largest oil market. The U.S. Energy Information Administration reported that commercial crude stockpiles fell by several million barrels last week, far more than analysts had predicted. Prices also drew support from reports that Western nations may ease sanctions on a so-called "shadow fleet" — a network of unregistered tankers used to move sanctioned oil. Any relief could reshape global supply routes, though the impact remains uncertain. Traders are watching both developments closely. A sustained drop in U.S. inventories often pushes prices higher, while changes to sanctions policy can swing markets in either direction.