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Oil edges higher as Middle East risks offset US demand concerns https://t.co/ua94NG2IEP via @Reuters
Oil steady as US demand flags but Middle East risk mounts https://t.co/dFtNzg8W2J https://t.co/Qhg6L2ZTuz
#Crudeoil gyrated following EIA's stock report on Wednesday which on balance was price negative. Crude stocks rose 3.6mb to an April high as refinery input fell for a third week and exports slowed by 0.5mbd. #Gasoline stocks rose by 2.7mb, the most since January, while impliedโฆ https://t.co/IhQ1i2gJ0y
Oil prices have fluctuated recently as traders monitor Middle East tensions and summer demand. Prices dipped due to concerns over demand outlook and a reported increase in US crude inventories. Despite these factors, oil prices rose on inventory drawdown outlook and Middle East risks. The US Energy Information Administration reported a significant 3.6 million barrel increase in crude inventories, leading to cautious market sentiment.