Like evenly matched sumo wrestlers, geopolitical strife and bloated inventory have countered each other in a battle to influence oil prices.

Geopolitics appeared to have gained an advantage in the past week, with heightened tensions over Venezuela’s internal power struggle and the Trump administration following through on its commitment to reduce Iran’s oil exports to zero.

But when push came to shove, traders backed crude stockpiles, which the U.S. Energy Information Administration said rose 9.9 million barrels in the week ended April 26 to reach its highest level in 19 months. Inventories in the Gulf Coast region accounted for 9.2 million barrels of that total.

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