Oil prices steady after large US crude inventory draw
Published: 02:07 PM,Jul 03,2024 | EDITED : 06:07 PM,Jul 03,2024
BRUSSELS: Oil prices steadied on Wednesday after trading higher as industry data showed a bigger-than-expected draw in US crude stockpiles, with gains capped by economic headwinds from China and the euro zone.
Brent crude futures inched up 15 cents, or 0.17%, to $86.20 per barrel at 1210 GMT. US West Texas Intermediate (WTI) crude futures gained 11 cents or 0.13% to $82.92 per barrel.
On Tuesday, both benchmarks rose to their highest since the end of April but closed down on the day as fears faded that Hurricane Beryl would disrupt production in the Gulf of Mexico. — Reuters
Brent crude futures inched up 15 cents, or 0.17%, to $86.20 per barrel at 1210 GMT. US West Texas Intermediate (WTI) crude futures gained 11 cents or 0.13% to $82.92 per barrel.
On Tuesday, both benchmarks rose to their highest since the end of April but closed down on the day as fears faded that Hurricane Beryl would disrupt production in the Gulf of Mexico. — Reuters