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International benchmarks for oil prices dipped lower on Monday (25 April) as the market directed attention back to the supply situation following a private data forecaster showed a jumped in the US commercial crude inventories. Official report from the Department of Energy will be released on Wednesday. Market even fell more tension when Bloomberg published news that Saudi Aramco would complete the expansion project at the Shaybah oilfield by end of May, which would raise the field’s capacity by 250,000 barrel per day to 1 million bpd. Analyst warned that with Saudi’s move to maintain its total capacity at 12 million bpd, the $40/b threshold would be easily broken and that the oil market might not see any rebalance till the first half of next year.

WTI closed at $42.64/barrel (-$1.09) June delivery

Brent closed at $44.48/barrel (-$0.63) June delivery