The crude oil markets are a little soft in the early hours of Wednesday, as the market is waiting for the crucial Federal Reserve interest rate announcement, and the inventory numbers coming out of the USA.

The U.S. Energy Information Administration is forecasted a drop in the price of crude oil for 2025 and 2026. EIA predicts that benchmark Brent crude oil prices will fall from an average of $81 per

Oil prices edged lower on Wednesday on a rise in U.S. crude stockpiles and easing concern over Libyan supply, with U.S. tariffs on Canadian and Mexican imports also in focus. Brent crude futures were down 44 cents,

Oil prices fell on Wednesday, with the U.S. benchmark settling at its lowest year to date, after domestic crude stockpiles in the world's top petroleum producer and consumer rose more than expected last week.