Overview

• Brent slipped below $68 a barrel and WTI hovered near $64, leaving futures on pace for their biggest monthly loss since April.
• Washington doubled a levy on Russian imports to 50% and White House adviser Peter Navarro publicly rebuked New Delhi, yet Indian refiners signaled continued purchases of Russian crude for October loadings and beyond.
• U.S. crude inventories fell by 2.4 million barrels in the week to August 22, with a first Cushing, Oklahoma draw in eight weeks, according to EIA data.
• Gasoline stocks declined by about 1.2 million barrels and distillates by 1.8 million, while refinery runs fell to their lowest since early July.
• Supply worries eased after Russia said the Volgograd refinery will restart early and BP resumed a key unit at its Whiting, Indiana plant.