Oil jumped higher on US crude inventory report

International benchmarks for crude oil climbed higher on Wednesday, 28 July 2021 after a report from the Energy Information Agency (EIA) showed a large drop in both crude and gasoline stocks in the US last week, signaling healthy demand conditions.

Brent for September delivery gained 26 cents to $74.74/barrel.

WTI for September settlement rose 74 cents to $72.39/barrel.