Despite a bullish demand signal from the US, oil markets face volatility as traders weigh fragile West Asia peace and potential OPEC+ supply shifts.

Oil prices rise as US crude draw points to firm demand; West Asia risks still linger

Biden to authorise 30 million barrels of oil to be released from petroleum reserve: White House

According to the Energy Information Administration, the U.S. crude oil stockpiles dropped last week to their lowest levels since January 2020. Brent crude ended down 1.2% at $68.23 a barrel.

U.S. crude oil stockpiles drop to their lowest levels since January 2020

U.S. West Texas Intermediate fell 3 cents to settle at $70.88 a barrel, after earlier touching $71.78 a barrel, its highest since October 2018.

Market Today: Crude oil steadies after hitting 2-yr high

Against this backdrop, MSCI’s index of Asia-Pacific shares outside Japan rises 0.75% ahead of Monday’s European session.

Asian stocks start defensively | US Crude climbs 9 cents to $42.43 | WION

Brent crude ended the session up 74 cents, or 1.7%, at $45.17 a barrel, while West Texas Intermediate oil settled 49 cents, or 1.2% higher, at $42.19 a barrel.

Oil prices hit 5-month high as U.S crude stocks fall

The US oil benchmark, known as West Texas Intermediate or WTI, hit a low of $19.85 a barrel, losing more than 7 per cent, before picking up to slightly above $20 in the European afternoon.

US crude up by 2.9%, at $20.68 a barrel

Oil drops as US inventory build, record output rekindles supply worries

International oil prices rise over US stockpile drop

Oil prices fall on surging US crude stockpiles, economic concerns

Oil prices edge up over decline in US inventory, Khashoggi's disappearance

Brent crude was down $1.90 a barrel while US crude was down $1.90 a barrel

Oil prices dive after Britain votes to leave EU

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