Crude oil rose moderately in midday Thursday trade after three consecutive daily losses, boosted by bargain hunting and supply worries amid uncertain U.S. policies toward Russia related to the Ukraine war.
At noon ET, more-active September Nymex West Texas Intermediate crude contracts were 60cts higher at $65.80/bbl and August WTI was up around 70cts at $67.10/bbl.
London-based September ICE Brent contracts rose about 50cts to $69/bbl and October Brent was up 55cts at $68.10/bbl.
Crude oil prices fell around $1/bbl during their three days of losses.
Diesel prices outperformed gasoline. September Nymex ULSD jumped 5.3cts to $2.4195/gal and August ULSD was 5.75cts higher at $2.449/gal. September RBOB climbed 1.2cts to $2.1135/gal and August RBOB was up by 1ct at $2.154/gal.
On Monday, a Washington proposal to impose harsh tariffs against Russia initially stirred oil supply risks and lifted oil futures. However, petroleum prices quickly retreated after President Trump said Moscow had 50 days to negotiate a plan to end the Ukraine war.
In the cash market, most products tracked Nymex futures to trade higher.
Spot participants monitored possible operational issues after Phillps 66 said Monday's heavy rain caused a partial power outage at its 272,135 b/d Bayway refinery in Linden, N.J. In addition, Chevron said a fire broke out Monday at the wastewater treatment area of its 375,200 b/d Pascagoula, Miss., refinery, injuring four contract workers.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
--Reporting by Frank Tang, ftang@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com
(END) Dow Jones Newswires
07-17-25 1254ET
