Oil Prices Steady Near Two-Month High on Significant U.S. Crude Drawdown Oil prices remained near a two-month high, with Brent crude holding above $86 a barrel, driven by reports of a significant drawdown in U.S. crude stockpiles. The American Petroleum Institute indicated a 9.2 million barrel decrease last week, potentially the largest since January if confirmed by official data. This year, oil prices have been bolstered by a positive sentiment in equity markets, concerns over an active hurricane season, and geopolitical risks, including tensions in the Middle East and upcoming elections in France, the UK, and Iran. However, concerns about weak U.S. gasoline demand persist. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts In Response to a Steady Fed, Southeast Asia Adjusts Rates to Safeguard Currencies READ MORE Central Bankers Plan Record Increase in Gold Reserves, Survey Finds READ MORE Countries at Climate Risk Face Soaring Debt Payments, Report Reveals READ MORE Gold's Upward Momentum Continues Amid Global Economic Uncertainty READ MORE Fed Chair Balances Inflation Fight with Economic Growth in Congressional Testimony READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment