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Oil prices steady on US gasoline demand and Red Sea attacks
Business World Philippines
|July 11, 2025
Oil prices were steady on Wednesday as investors weighed strong US gasoline demand data and attacks on shipping in the Red Sea, while US copper tariffs loomed.
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Brent crude futures settled up 4 cents, or 0.06%, to $70.19 a barrel. US West Texas Intermediate (WTI) crude settled up 5 cents, or 0.07%, to $68.38 a barrel.
US crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration (EIA) said on Wednesday.
Crude inventories rose by 7.1 million barrels to 426 million barrels in the week ended July 4, the EIA said, compared with analysts’ expectations in a Reuters poll for a draw of 2.1 million barrels.
Gasoline demand rose 6% to 9.2 million barrels per day last week, the EIA said.
यह कहानी Business World Philippines के July 11, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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