Crude oil prices have declined for the third consecutive week, with West Texas Intermediate (WTI) crude falling nearly 3% to approximately $57 per barrel. This marks the longest continuous decline since early spring, driven by rising inventories and concerns over demand. Storage operators in Cushing, Oklahoma, report increased competition for tank space, indicating expectations of a supply surplus. The International Energy Agency (IEA) has raised its 2025 oversupply forecast by nearly 20%, exacerbating market concerns. Despite recent comments from Trump on trade tensions with China, market optimism remains subdued due to geopolitical uncertainties and uneven sanctions on Russian oil. Indian refiners are gradually reducing imports, limiting the impact of Western pressure on Moscow. Analysts suggest the market faces challenges from oversupply and slowing demand, prompting investors to adopt defensive strategies.