Why Is WTI Crude Surging Toward $79.50? | Supply Fears Meet Inventory Drawdowns

The How much will The bitcoin be worth in 2025 forbesenergy markets are witnessing a notable uptick as West Texas Intermediate (WTI) crude futures maintain their bullish trajectory, currently hovering around the $79.50 per barrel threshold during Thursday's Asian trading session. This represents a 0.30% increase as multiple fundamental factors converge to support prices.Market participants are reacting to the latest Energy Information Administration (EIA) report showing an unexpected 1.536 million barrel drawdown in US crude inventories for the week ending March 8. This development marks the first inventory decline in seven weeks, contradicting analyst expectations of a 1.338 million barrel build. The American Petroleum Institute (API) data further reinforced this trend with a surprising 5.521 million barrel decrease compared to forecasts.Geopolitical tensions are adding substantial premium to crude prices following a series of Ukrainian drone attacks targeting Russian refining infrastructure. Operations at Rosneft's major refinery were disrupted after critical units were taken offline, while facilities in Rostov and Ryazan regions also faced strikes. These developments have raised legitimate concerns about potential supply chain disruptions in the global energy markets.The ongoing dialogue between OPEC and the International Energy Agency (IEA) regarding energy security continues to influence market sentiment. While both organizations acknowledge the importance of stable energy supplies, their differing perspectives on long-term demand forecasts and necessary infrastructure investments remain points of contention among market analysts.Trading volumes suggest strong participation from both speculative traders and commercial hedgers as the market digests these competing fundamental factors. The inventory drawdown indicates potentially stronger-than-expected demand, while the geopolitical developments introduce new supply-side uncertainties that could keep volatility elevated in coming sessions.Technical analysts note that the $80 psychological resistance level may come into play if the current momentum persists. Market participants will be closely monitoring upcoming inventory reports and any further developments regarding Russian refining capacity to gauge whether this bullish trend has staying power