U.S. crude stockpiles

U.S. crude stocks rose by 4.6 million barrels due to refinery maintenance, while gasoline and distillate inventories declined as fuel production slowed.

Oil prices surged nearly 3% due to escalating Middle East tensions and a significant drop in U.S. crude stockpiles, highlighting the volatile nature of global energy markets.

Oil prices rebound with U.S. crude stockpiles dropping and interest rate cut prospects improving, signaling potential economic growth and increased demand for oil.