COMMODITY
Crude oil futures settle higher amid signs of increase in US fuel demand
Jun-27-2025

Crude oil futures ended higher on Thursday amid the ongoing Israel-Iran ceasefire and reports suggesting an increase in fuel demand in the US as the summer travel season approaches. Besides, the concerns about increased output by OPEC+ countries was balanced by the fifth straight weekly drawdown on US crude oil inventories 11% below the five-year average.

Benchmark crude oil futures for August surged $0.32 or about 0.49% at $65.24 a barrel on the New York Mercantile Exchange. Brent crude for August gained $0.05 or about 0.07% at $67.73 a barrel on London's Intercontinental Exchange.

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