From Investing.com: 2024-05-08 16:26:39

Oil prices rose slightly as U.S. crude inventories fell and refineries increased production. Futures settled at $83.58 a barrel and West Texas Intermediate crude rose to $78.99 a barrel. Refinery utilization rates were up, but gasoline demand remains low ahead of the summer driving season. The stronger dollar limited gains by making oil more expensive for investors. Hopes of a ceasefire in Gaza also weighed on oil prices. The U.S. is optimistic about negotiations for a ceasefire between Israel and Hamas, with CIA Director Burns meeting with Israeli Prime Minister Netanyahu.



Read more at Investing.com: Oil ends slightly firmer after US crude stock draw, firmer dollar By Reuters