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August 7, 2025 6:56 PM

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Oil prices rise amid steady demand in US

Crude oil prices rose today, amid signs of steady demand in the United States, the world’s largest oil consumer. Brent Crude was trading over over half per cent up at 67 dollars and 24 cents per barrel, and WTI Crude was also trading half per cent up at 64 dollars and 67 cents per barrel, when reports last came in. Meanwhile, crude oil inventories decreased by 3 million barrels to around 424 million barrels in the week ending on 1st of August, according to the Energy Information Administration data. Both finished gasoline inventories and blending components inventories dropped last week.