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(Investing) – Oil prices steadied on Wednesday after recent sharp gains as elevated Middle East tensions pushed up fears of supply disruptions, while industry data showed a massive draw in U.S. inventories. At 08:00 ET (12:00 GMT), Brent oil futures for August gained 0.1% to $76.52 a barrel, and West Texas Intermediate crude futures rose 0.1% to $73.32 a barrel. Iran’s Khamenei raises tensions further
Weekly Crude Oil Storage as of June 13, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 11.5 million barrels from the previous week. At 420.9 million barrels, U.S. crude oil inventories are 10% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
