The US stock market experienced a slight increase on Thursday, May 29, 2025. The Dow Jones gained, while the S&P 500 and Nasdaq also saw modest gains.
However, oil prices fell after a US court ruling boosted crude supplies. The American Petroleum Institute’s (API) report showed an unexpected 411,000-barrel increase in July, which could lead to a net supply boost of around 1.37 million barrels per day. According to StoneX analyst Alex Hodes, this might be less than initially expected.
US inventory data revealed a 2.8 million barrel crude stock draw, largely driven by higher exports. However, gasoline stocks fell more than anticipated as demand rose to nearly 9.5 million barrels per day ahead of the summer driving season.
As a result, West Texas Intermediate (WTI) oil futures settled at $60.94 per barrel, down 1.5% from the previous day. Brent crude fell 1.2% to $64.15 per barrel.
Source: https://www.barrons.com/livecoverage/stock-market-news-today-052925