Oil prices fell after Brent had recovered above $100 per barrel but gains were capped following a surprise build in U.S. crude oil inventories, according to ANZ. The larger-than-expected inventory increase dampened earlier optimism in the oil market, reversing recent upward pressure on prices. Market participants reacted to the unexpected supply data, which countered expectations of tighter crude conditions.

The development highlights ongoing volatility in global oil markets driven by inventory fluctuations and shifting demand expectations. Analysts noted that such inventory surprises often trigger short-term price corrections as traders reassess supply-demand balances. The report underscores the sensitivity of oil prices to U.S. inventory reports, which remain a key market-moving factor for energy traders.