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Oil Holds Gain as Industry Report Points to Lower US Stockpiles

(Bloomberg) Oil extended gains after industry data pointed to shrinking US crude stockpiles ahead of a report from the IEA on the market outlook.Most Read from BloombergHunter Biden Convicted of Gun Charges by Jury in DelawareApple Hits Record After Introducing ‘AI for the Rest of Us’Dozens of CVS Generic Drug Recalls Expose Link to Tainted FactoriesPimco Warns of More Regional Bank Failures on Property PainStocks Rise as Solid Treasury Sale Spurs CPI Bets: Markets WrapBrent futures climbed a

Increased U.S. Demand Drives Oil Prices Up

Tuesday saw a modest climb in oil prices, with Brent crude closing above $81 per barrel, reflecting nuanced shifts in the global oil market.

Oil rates surge amidst strong US demand and Fed rate cut ambiguities

On Wednesday, oil rates surged, propelled by a robust demand forecast in the United States, the globe s primary oil consumer, and lingering uncertain

OPEC may soon lose its sway over global oil prices, IEA says

U.S. Crude Production Growth Challenges OPEC+ Control Over Prices

OPEC+ extends oil production cuts until the end of 2025, aiming to stabilize crude prices and balance market demands in the face of U.S. crude production growth and weak demand concerns.