Oil settled mixed as lower US crude stock balance cloudy outlook

International benchmarks for crude oil settled mixed on Thursday, 28 July 2022 as lower US crude inventories counterbalance the growing fear of a global economic recession. The market juggled between the data showing an 8.5% rebound in gasoline demand in the US last week and the country’s economy unexpectedly contracted in the second quarter.

Brent rose 52 cents to close at $107.14/barrel. 

WTI loses 84 cents to close at $96.42/barrel.