Singapore, Oil prices recovered in Asian trading on Wednesday, but gains were capped by weak demand. Brent crude futures rose 17 cents, or 0.16%, to $76.60 a barrel by 0615 GMT. U.S. West Texas Intermediate crude rose 17 cents, or 0.23%, to $73.37. The API figures showed crude stocks were up by 176,000 barrels in the week ended August 2, the sources said, speaking on condition of anonymity. Gasoline inventories rose by 3.313 million barrels against analysts' expectations for a 1 million bbl draw, while distillate stocks rose by 1.217 million barrels, a bigger build than anticipated. The U.S. Energy Information Administration is due to release weekly inventory data on Wednesday. Source: Bahrain News Agency
Related Articles
IFN Oman Forum 2025 Highlights Growth in Islamic Finance and Cross-Border Collaborations
Muscat: The IFN Oman Forum 2025, organized by the Islamic Finance News in partnership with the Financial Services Authority, convened key stakeholders to discuss the burgeoning role of Islamic finance in Oman’s economic landscape and its potential for…
Blue Economy Investments Drive Diversification and Sustainable Growth in Al Wusta
Muscat: Al Wusta Governorate continues to invest in blue economy activities, capitalising on its marine assets and the integration of fisheries, ports, logistics and tourism to boost the value of marine resources and advance economic diversification …
Oman Youth Beach Handball Team Kicks Off World Championship Campaign Against Spain, Puerto Rico
Muscat: Oman national youth beach handball team will begin its participation tomorrow ‘Wednesday’ in the third edition of the IHF Men’s Youth Beach Handball World Championship, hosted by the Tunisian Republic during 17-22 June 2025. The national team …