Oil Prices Rise on Thursday

PUKMEDIA

Oil prices

Oil prices saw a slight increase on Thursday, supported by improving global demand prospects and stronger-than-expected economic data from the United States and China.

Brent crude was trading at approximately $68.78 per barrel, while West Texas Intermediate (WTI) stood at around $66.89.

The modest rise followed a significant drawdown in U.S. crude inventories and robust refining activity in China during June. Analysts say the figures suggest a potential rebound in global fuel demand after weeks of downward pressure on the market.

Nonetheless, gains remain limited as rising stocks of petrol and diesel continue to indicate a sluggish recovery in refined product consumption.



PUKMEDIA