Continued Decline in Oil Prices: On Wednesday, oil prices moved to their lowest levels in four months today,
As markets absorbed the OPEC+ decision to increase supplies later this year, U.S. crude and fuel inventories increased.
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This decline came following news from OPEC and its allies about plans
to increase supplies from October despite recent signs of weak demand growth.
In the United States, crude oil and gasoline inventories rose last week,
according to figures from the American Petroleum Institute.
According to the New York Mercantile Exchange, crude oil futures for July traded at $73.25 per barrel.
The dollar index contracts, which measure the performance
of the U.S. dollar against a basket of other major currencies, rose by 0.08% to trade at 104.
At the same time, Brent oil prices for August rose by 0.03% to trade at $77.54 per barrel,
while the price difference between Brent oil and crude oil contracts is $4.29 per barrel.
Continued Decline in Oil Prices