U.S. crude oil inventory data showed mixed demand

Sina Financial News The increase in crude oil inventories in Cushing in the United States partially offset the impact of the decline in national inventories, making demand a mixed situation. U.S. crude inventories fell by 7.1 million barrels last week, the biggest weekly decline since August, EIA data showed. But Cushing crude inventories climbed to their highest level since August. Crude oil futures trading volumes continued to be subdued during the holiday period, with trading volumes below the 50-day average for the past eight trading days. Crude oil has risen nearly 8% since its December lows as Houthi attacks on ships in the Red Sea, forcing tankers and other vessels to divert to longer ranges, increasing costs. Nearly half of the current fleet of container ships that regularly pass through the Red Sea avoid this route.