Shanghai crude oil futures night session closed down 0.11%, at 455.9 yuan per barrel.

Shanghai crude oil futures night session closed down 0.11%, at 455.9 yuan per barrel.

The Shanghai International Energy Exchange (INE) crude oil futures (SC) closed lower in the night session on May 27, 2025, dropping by 0.11% to 455.9 yuan per barrel. This decline comes despite the broader market's expectations of a decline in US crude oil inventories for the week ending May 16 [2].

According to the US Energy Information Administration (EIA), commercial crude oil inventories in the US increased by 1.3 million barrels for the week ending May 16, reaching 443.2 million barrels. This level is about 6% below the five-year average for this time of year, but it contradicts market expectations of a decrease [2].

Total motor gasoline and distillate fuel inventories also increased, by 0.8 million barrels and 0.6 million barrels, respectively, from the previous week. These increases were about 2% and 16% below the five-year average, respectively [2].

The US and Iran are scheduled to hold talks on Iran’s nuclear program in Rome on May 23, which could potentially ease US sanctions on Iran and facilitate Iran's crude oil exports. However, any progress in these talks remains uncertain [2].

Market players are also keeping an eye on the upcoming Shanghai International Energy Exchange (INE) "International Week" webinar series, which will focus on delivery supervision [1].

References:
[1] https://www.ine.cn/eng/market/futures/energy/sc/
[2] https://www.thehindubusinessline.com/markets/commodities/crude-oil-futures-edge-higher-despite-us-inventory-build/article69604745.ece