Crude oil futures were slightly higher, and US crude oil reserves declined drastically

July 3, 2024 at 10:55 AM GMT+9 (some excerpts)

Crude oil futures were slightly higher in Asian time. Expectations for steady fuel demand in the US during the summer driving season increased in response to the fact that US crude oil reserves declined drastically from expectations according to industry data.
By 0033 GMT (9:33 a.m. Japan time), North Sea Brent crude oil futures were 0.16 dollars (0.2%) high per barrel = 85.60 dollars. US WTI is $82.95, which is 0.14 dollars (0.2%) higher.
Concerns faded the day before that crude oil production in the Gulf of Mexico would be hindered due to the approach of Hurricane “Beryl,” and both futures fell.