Crude oil prices made slight gains on Wednesday but it wasn’t due to any cautious stances over the Iran-Israel ceasefire and the fighting that has gone on in the Middle East in the past week.
It was the larger-than-expected draw in U.S. crude stocks, a sign of firm demand and the summer driving season.
Global standard Brent crude managed a 15 cent or 0.2% increase to $67.83 a barrel.
West Texas Intermediate crude in the states rose 20 cents or 0.3% to settle at $65.12 a barrel on the New York Mercantile Exchange.
It was a negative day of trading for Oklahoma energy stocks on Wednesday as all but three of the stocks we follow recorded losses.
Five percent losses were recorded by NGL Energy Partners and Vital Energy. On the plus side, Stardust Power had a nearly 6% gain for the day.