India, July 2 -- Crude oil made sharp gains on Wednesday, even as the Israel-Iran ceasefire holds, as Iran has challenged the IAEA's power to inspect its nuclear sites without its security council's approval. A falling US dollar also offered support for oil.
WTI Crude Oil for August delivery closed up by $2.00 at $67.45 per barrel today.
September month Brent Crude was last seen trading up by $2.02 to $69.13.
Data from the American Petroleum Institute revealed US crude oil inventories rose by 0.680 million barrels for the week ending June 27. The increase broke a four-week declining streak, surprising investors as markets had anticipated a 2.26 million-barrel decrease.
Energy Information Administration data revealed that gasoline demand...