Overview

• U.S. EIA data showed a 6.0 million barrel crude draw to 420.7 million and a 2.7 million barrel gasoline decline for the week ending Aug. 15, underscoring strong summer fuel use.
• Brent traded near $66.97 and WTI around $62.86 early Thursday after gains of about 1.6% and 1.4% respectively in the prior session.
• Prospects for progress in Ukraine peace talks have pressured prices by raising the chance of fewer restrictions on Russian exports, although existing sanctions remain in force.
• OPEC+ is set to lift output by about 547,000 barrels per day in September as part of a gradual plan to restore roughly 2.2 million bpd by September 2026.
• Demand signals broadened, with the four‑week average of U.S. jet fuel consumption rising to its highest level since 2019, according to Reuters.