Overview

• U.S. crude inventories unexpectedly rose by 7.7 million barrels in the week to July 25, according to the Energy Information Administration
• West Texas Intermediate and Brent futures slid about 0.8%, reversing recent gains after the stock build report
• President Trump has set a 10- to 12-day deadline for Russia to end its war in Ukraine or face new measures, including 100 percent tariffs on its oil customers
• Treasury Secretary Scott Bessent warned China could face elevated levies for continuing to import Russian crude, and analysts say India may comply, potentially cutting exports by 2.3 million barrels per day
• Market participants say sanction-driven rallies have given way to profit-taking as investors adopt a wait-and-see stance ahead of further U.S. trade policy announcements