Brent crude oil futures fell 5 cents, or 0.1%, to $ 74.69 per barrel at 0108 GMT, while US West Texas Intermediate (WTI) crude oil futures fell. fell 4 cents, or 0.1%, to $ 72.35 a barrel.
“The drops (in oil stocks) suggest that the increase in cases of the Delta variant of COVID-19 has little impact on mobility,” ANZ analysts said in a note Thursday.
Crude inventories fell 4.1 million barrels in the week to July 23, the US Energy Information Administration (EIA) said, helped by lower imports and lower production weekly.
Gasoline stocks have also plummeted, dropping them largely to pre-pandemic levels.
The US economic recovery is still on track despite an increase in coronavirus infections, the Federal Reserve said on Wednesday in a new policy statement that remained optimistic and signaled ongoing talks around the eventual withdrawal of policy support. monetary. The central bank left interest rates at 0%.
Nonetheless, some concerns about fuel demand persist, with gasoline demand in the United States and Europe starting to level off. Analysts note that globally, demand levels before the pandemic may not be seen until next year if coronavirus infections and slow vaccinations further bolster structural changes in demand.
COVID-19 continues to inflict devastating toll on the Americas, with Argentina, Colombia, Cuba, Ecuador and Paraguay among the countries with the highest weekly death rates in the world, the Pan American Organization said of health.