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Oil prices rose about 2% on Wednesday, with Brent up $1.27 to $62.59 and WTI up $1.26 to $58.50. The gain followed EIA data showing a 961,000-barrel draw in US crude stocks, against expectations for a build, and firmer US fuel demand.
Traders also cited sanctions-related supply risk and hopes for a US-China trade deal.
A larger-than-expected US crude draw and firm fuel demand point to tighter near-term balances, supporting energy costs for feed producers. The move is modest and mainly reflects short-term market sentiment.
cnbc.comReutersOct 22, 2025Not enough comparable past events yet for a historical read.
Not 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.
A surprise US crude draw and firmer fuel demand on Oct 22 lifted crude about 2%, adding to the input cost and demand support for diesel.
A larger-than-expected US crude draw and firmer fuel demand gave Brent a supportive demand-side lift on Oct 22, alongside sanctions risk.
