USO falls 2.18% to $144.15 a share as supply builds
Hon Hai's September sales jumped 38.4% to NT$1.16 trillion on Nvidia-linked demand, even as USO fell 2.18% to $144.15 a share on a flood of new supply
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WTI crude fell 2.1% to $89.20 a barrel as traders weighed signs of looser supply. OPEC+ agreed to hold production quotas unchanged for another month, according to Trading Economics.
US commercial crude inventories rose by 1.02 million barrels at the end of September, an unexpected increase, according to market commentary from LiteFinance. The same commentary says US oil production has climbed to a record 13.83 to 13.86 million barrels a day, output it says is replacing lost Middle Eastern supply and reducing OPEC+'s grip on the market.
Hon Hai's September sales rose 38.4% to NT$1.16 trillion, with third-quarter sales reaching NT$3.027 trillion, extending a growth pace tied to Nvidia-linked demand.
The drop in crude reflects supply conditions rather than any pullback in fuel demand. Hon Hai's sales surge describes a buildout in AI infrastructure, a separate track from oil's supply-driven move, and the two are not mechanically linked even though both made headlines the same day. Crude's decline stands on improving supply alone, with nothing in the day's corporate news offering a catalyst that would push the move further in either direction.