Oil prices rise as US crude and fuel inventories seen shrinking

Oil Prices News

Oil prices rise as US crude and fuel inventories seen shrinking
Brent CrudeAmerican Petroleum InstituteInventories
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Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in...

NEW YORK - Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb.

Benchmarks picked up accordingly. WTI had lost 7% over the previous four sessions and Brent shed nearly 5% in the previous three.The API figures showed crude stocks falling by 3.9 million barrels in the week ended July 19, the sources said, speaking on condition of anonymity. Gasoline inventories fell by 2.8 million barrels and distillates shed 1.5 million barrels.

In under 48 hours, the head of the staunchly conservative public-policy arm of the Southern Baptist Convention rankled fellow Baptists by applauding President Joe Biden's “selfless act” of withdrawing his candidacy for re-election. Then, his agency reported he was fired — and now they have reaffirmed his leadership.SUMMERSIDE, P.E.I.

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