Oil prices experienced significant fluctuations over two days, with both Brent and WTI crude futures witnessing declines and subsequent recoveries. On the first day, Brent crude futures fell by $1 to $82.16 per barrel, while WTI crude dropped to $77.38 per barrel and further decreased to a low of $76.89, marking the lowest level since March 11. However, by the end of the day, WTI settled at $78.99 per barrel, reflecting a recovery. The following day, WTI continued to climb, eventually settling at $79.26 per barrel. Brent also recovered, closing at $83.88 per barrel. These price movements were influenced by various factors including seasonal US fuel demand hitting pandemic lows, a mixed US inventory report showing a nationwide crude stockpile decline but an increase at the Cushing storage hub, shifts in market sentiment driven by US rate cut hopes, and OPEC's switch to 'call on OPEC+' in its global oil demand outlook. Additionally, oil reached a one-week peak fueled by demand following Chinese and US data.