Crude oil futures ended sharply higher on Wednesday following a sudden reversal in the gulf situation after Iran launched surprise attacks on U.S. bases in Jordan while joint U.S.-Saudi Arabian forces targeted Iran-linked militants in Iraq. Meanwhile, according to the data from American Petroleum Institute (API), U.S. crude oil inventories unexpectedly increased by 3,300,000 barrels for the week ending July 24, defying market expectations for a 2,500,00-barrel draw.
Benchmark crude oil futures for September delivery increased by $5.20 or 6.56% to settle at $84.46 a barrel on the New York Mercantile Exchange. Brent crude for September delivery was up by $6.65 or 7.91% to settle at $90.74 a barrel on the New York Mercantile Exchange.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: