Oil slumped on easing supply fear; returned of demand concerns

International benchmarks for crude oil fell sharply on Thursday, 21 July 2022 following the EIA reports on the rising gasoline inventories in the US that signal the weakening demand despite the peak driving season. Meanwhile, supply from Libya has resumed while Russia continues to pump gas to the EU that eases supply fear. 

Brent dived $3.06 or 2.9% to settle at $103.86/barrel. 

WTI decreased $3.53 or 3.5% to close at $96.35/barrel.