📈 Oil prices rise as U.S. crude and fuel inventories seen shrinking 📈

Oil prices saw a rebound on Wednesday after several days of decline, boosted by a drop in U.S. crude inventories. Brent crude futures for September rose 46 cents to $81.47 per barrel, while U.S. West Texas Intermediate (WTI) increased 42 cents to $77.38 per barrel. 📈
The decrease in U.S. crude, gasoline, and distillate inventories last week has provided some support for prices. However, expectations for a ceasefire deal in the Middle East are creating mixed signals. While a potential ceasefire could stabilize the region and reduce geopolitical risk, ongoing uncertainties are keeping prices from rising further. 🌍🛢️
Market sentiment is also being affected by concerns over China's economic slowdown, which could impact global oil demand. The official U.S. inventory data due later today may offer additional insights into market trends. 📅