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Weekly Crude Oil Review: WTI futures hold near two-week high
(12-Jul-2025, 14:32 Hours IST)
WTI Crude oil futures held around a two-week high near $69 per barrel. The US EIA projects global inventory builds will weigh on prices but that is seemingly not having an impact on prices right now. EU is waiting for an announcement on the EU-US deal soon with ambassadors meeting again this afternoon. Equities remained supported, helping oil sustain recent gains. The Crude oil inventories in the United States increased by 7.1 million barrels during the week ending July 4, according to EIA data. The build brings commercial stockpiles to 426 million barrels, still 8% below the five-year average for this time of year.

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