U.S. Oil Prices Show Resilience Despite Rise in Crude Inventories

Despite concerns over reduced demand and a larger-than-expected build in U.S. crude stockpiles, oil prices are showing resilience. Natural gas futures have fallen, with expectations for a below-average draw from inventories. U.S. crude oil inventories rose by 4.2 million barrels, surpassing estimates. Chevron’s $53 billion deal for Hess is facing potential jeopardy due to a possible challenge from Exxon. U.S. equity indexes are showing mixed performance, while inflation meeting expectations has sent Treasury yields lower.