India, June 25 -- Crude oil prices moved higher on Wednesday as an EIA report indicated a draw in crude oil inventories and a surge in US gasoline demand to a three-and-a-half-year high.
WTI Crude Oil contract for August delivery closed up by $0.55 to settle at $64.92 per barrel.
August Brent Crude was last seen trading, up by $0.66 to $67.80.
The 12-day war between Israel and Iran which began on June 12th came to an end yesterday after US President Donald Trump stated that both countries have agreed for a ceasefire. Trump also gave a go-ahead for Iran to continue supplying crude oil to China.
Today, Trump stated that the ceasefire is "going very well".
With the truce holding, fears of disruption to the Strait of Hormuz in the Persian ...