US Edition
Oil Prices Climb on US Trade Optimism, Drop in Crude Stockpiles
UNITED STATES, JUL 22 – U.S. crude oil inventories fell by 577,000 barrels as production dropped over 100,000 barrels per day and refinery inputs declined, the American Petroleum Institute reported.
- U.S. crude oil stocks declined by 3.2 million barrels to a total of 419 million as of July 18, 2025, surpassing market predictions.
- This decline followed an emergency release of crude oil from the Strategic Petroleum Reserve to ExxonMobil aimed at easing refinery logistical challenges.
- Inventories of commercial petroleum declined by 5.2 million barrels last week, while stocks of gasoline and blending components also saw reductions, despite refineries processing an average of 16.9 million barrels per day.
- On July 24, Brent crude futures rose by 24 cents to reach $68.75 a barrel, supported by positive sentiment around U.S. trade negotiations and a larger-than-anticipated drop in crude inventories, while WTI prices climbed to $65.50 per barrel.
- The inventory decrease and trade progress suggest potential easing of global economic pressures, though uncertainties over U.S.-China talks and Ukraine-Russia peace talks may limit further price gains.
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On Thursday morning, prices for benchmark Brent oil rise to $68.72 per barrel, and for US WTI oil - to $65.47.
Oil prices climb on US trade optimism, drop in crude stockpiles
By Yuka Obayashi TOKYO (Reuters) -Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures gained 24 cents, or 0.4%, to $68.75 a barrel by 0032 GMT. U.S. West Texas Intermediate crude futures climbed 25 cents, or 0.4%, to $65.50 per barrel. Both benchmarks were little changed on Wednesday as market…
Coverage Details
Total News Sources17
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 29%
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