Oil rises on US crude inventory draw, Mideast tensions

Quick Summary:

SINGAPORE: Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S.crude stockpiles, while the market kept tabs on flaring tensions in the Middle East.

However, gasoline inventories rose by 2.468 million barrels, and distillates fell by 740,000 barrels.

In the Middle East, Israeli forces bombarded several areas of the southern Gaza Strip on Tuesday, with thousands of Palestinians fleeing their homes.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaIsraelLebanonMexicoNigerNigeriaSingapore

Topics: Brent OPEC Energy WTI /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 16:09:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 532 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21469461

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 23 posts per day

Year Established: 1971

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News Last Updated: 4 hours ago

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