WTI rebounds above $65 on trade hopes and inventory draw

WTI crude oil futures surged past $65 per barrel on Wednesday, snapping a three-day losing streak as positive US trade talks brightened the demand outlook. A 0.6 million-barrel drop in US crude inventories further supported prices, even as distillate stockpiles rose. Bargain buying added momentum, with MCX August oil futures advancing 0.25% to ₹5660 per barrel. Hopes of broader trade deals with key US partners?especially top crude consumers?ahead of the August 1 deadline are easing concerns about prolonged demand risks. Traders now look to official inventory data for the next cue.

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