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Crude Oil Prices Edge Up on Positive Economic Data From World's Top Oil Consumers
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Crude Oil Prices Edge Up on Positive Economic Data From World's Top Oil Consumers
Jul 17, 2025 2:21 AM

05:03 AM EDT, 07/17/2025 (MT Newswires) -- Crude oil prices inched up on Thursday, finding support from economic data from the U.S. and China that were stronger than expected.

Brent crude at last look edged higher by 0.1% to US$68.61/barrel and West Texas Intermediate crude gained 0.3% to US$66.58/b.

This comes after the central bank released a snapshot of the U.S. economy that showed activity picked up in recent weeks, Reuters said in a Thursday report.

However, the outlook was "neutral to slightly pessimistic" as businesses noted price impacts of higher import tariffs, the report said.

In China, data showed growth slowed in the second quarter, but not by as much as expected, partly due to front-loading to beat U.S. tariffs, Reuters reported. Data also showed an 8.5% increase in China's June crude oil throughput year over year, implying stronger fuel demand.

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