Oil Rebounds to $69 as U.S.–EU Trade Deal Nears Completion

After a brief pullback, Brent crude climbed back near $69 a barrel as reports of a looming 15% U.S.–EU tariff accord lifted sentiment.

Investors are also eyeing U.S. Energy Information Administration data showing a 3.2 million‐barrel drop in nationwide crude oil stocks, even though Cushing inventories rose for a third week. Diesel inventories, while up slightly, remain exceptionally tight—their lowest for this time of year since 1996—underscoring ongoing demand pressure.