Overview

• Brent crude settled at $85.11 a barrel, while WTI crude closed at $82.82 a barrel.
• U.S. crude inventories fell by 4.9 million barrels last week, surpassing forecasts.
• Increased U.S. unemployment claims suggest potential economic slowdown.
• Expectations of a Federal Reserve rate cut may boost future oil demand.
• Chinese economic policy remains unclear, affecting global oil consumption outlook.