Oil Price being impacted by lots of "noise" - July

[dan_s]

WTI crude oil futures rose toward $67 per barrel on Wednesday afternoon, trimming losses from a two-day decline as traders focused on improving demand signals from the US and China.
> Strong summer travel and rising US gasoline consumption supported the outlook, while China’s second-quarter growth exceeded expectations, easing concerns over its energy demand despite tariff-related headwinds.
> This aligned with OPEC+’s latest report, which projected a stronger global economy in the second half of 2025, with rising oil demand driven by growth in India, China, and Brazil, along with continued recovery in the US and EU.
> Geopolitical Risk: Meanwhile, a drone strike halted output at Iraq’s Sarsang field, adding a short-term geopolitical risk premium.
> However, gains were capped by fading concerns over Russian exports after President Trump issued a 50-day ultimatum for Russia to end the war.
> This makes no sense?: Additionally, API data showed a surprise 19.1 million-barrel jump in US crude inventories, marking a record high.

Diesel inventories are dangerously low.