India, June 26 -- Crude oil extended its recovery on Thursday amid the ongoing Israel-Iran ceasefire and reports suggesting an increase in fuel demand in the US as the summer travel season approaches.
WTI Crude Oil for August delivery closed up by $0.32 to settle at $65.24 per barrel today.
August Brent Crude was last seen trading down by $0.14 to $67.54 per barrel today.
Concerns about increased output by OPEC+ countries was balanced by the fifth straight weekly drawdown on US crude oil inventories 11% below the five-year average.
Yesterday, data released by the EIA showed that oil inventories in the US shrank 5.8 million barrels, more than the expected 1.2 million barrel draw. Gasoline stocks fell by 2.1 million barrels.
With the ons...