Crude Oil is trading today in the European session below the $78 level.
Wednesday saw oil prices starting slightly lower, reflecting signs of easing supply worries, while focus shifted to upcoming U.S. stockpile data. Reports from the American Petroleum Institute showed a significant increase in U.S. crude and fuel inventories last week, defying analysts' forecasts and indicating weak demand.
Despite rising tensions in the Middle East, particularly due to Israeli military actions in Gaza, traders remained largely unaffected as mediators worked toward a ceasefire agreement.