WTI Crude Oil Prices man

WTI crude oil prices averaged USD 79.99 per barrel in July, down 5.5% from June. On 31 July, the commodity traded at USD 86.16 per barrel, up 22.1% from 30 June.

After rising above them in June for the first time in nearly 10 years as U.S. crude inventories fell to 7% below the seasonal norm, WTI prices dipped below those of Brent again in July. The authorities released data showing that U.S. crude inventories increased by 3.3 million barrels (mb) in the three weeks to 15 July; the market had expected a 5.7mb draw. Moreover, U.S. crude exports hit an eight-month low in July as a short U.S.-Iran truce swamped global markets with Middle Eastern oil.