Crude oil futures end lower amid optimism over US trade deals
US President Donald Trump announced trade deals with Japan and the Philippines
Crude oil futures ended lower on Wednesday amid optimism over further trade agreements between US and its trade partners after US President Donald Trump announced trade deals with Japan and the Philippines. Besides, traders paid to head towards declined US inventories. Data provided by API revealed that US crude oil inventories dropped by 5,77,000 barrels for the week ending July 18, reversing the previous week's downwardly revised 8,40,000-barrel build.
Benchmark crude oil futures for September declined $0.18 or about 0.28% at $65.25 a barrel on the New York Mercantile Exchange. Brent crude for September decreased $0.08 or about 0.12% at $68.51 a barrel on London's Intercontinental Exchange.
