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Oil prices finished higher after U.S. oil and fuel inventories declined. Brent for September settled 70 cents higher at $81.71 a barrel, and WTI rose 63 cents to $77.59.
Falling U.S. crude and fuel stocks signal tighter near-term supply, which supports energy costs for feed transport and processing. The move is a routine inventory reaction rather than a new supply shock.
reuters.comArathy SomasekharJul 24, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
