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 fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports. Brent crude futures were down 59 cents,

Oil prices steadied on Wednesday as investors weighed the impact of potential U.S. tariffs on Canadian and Mexican imports, while largely shrugging off an increase in U.S. weekly crude inventory. Brent crude futures fell 2 cents to $77.