Oil inched higher on US gasoline data report

International benchmarks for crude oil inched higher on Wednesday, 10 August 2022 after a report from the Energy Information Agency showed 5 million barrels dropped in the US gasoline inventories, signalling an improvement in demand. Meanwhile, consumer prices remained unchanged in July, a sign of easing inflation.

Brent added $1.09 or 1.1% to settle at $97.40/barrel. 

WTI gained $1.43 or 1.6% to close at $91.93/barrel.