WTI finally had a reason to move. Brent had plenty of reasons, but not enough of them were new. The EIA gave the U.S. contract an 8.6 million-barrel crude draw against expectations for a near-flat report. WTI buyers took the number and ran with it. Brent spent the session above $100, but it could not build on tanker attacks near Hormuz, tighter product supplies and renewed strikes on Russian refineries.
Oil News: WTI Rallies on U.S. Draw as Brent Stalls on Shadow Fleet Talk
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Key Points:
- WTI gained more than 3% after U.S. crude inventories fell 8.6 million barrels, far exceeding expectations.
- Brent stayed nearly unchanged despite ship attacks near Hormuz and renewed strikes on Russian refineries.
- Shadow-fleet talks and faster diesel-stock releases kept Brent buyers from extending the risk trade.