EnergyReader · 2026-08-08 17:22

WTI holds near $77 as OPEC+ restraint and inventory draw offset Venezuelan supply growth

By EnergyReader Newsroom · August 8, 2026

The EIA reported crude oil inventories fell by 1.7 million barrels in the week of July 6 (2026), a draw larger than analysts had forecast, handing bulls the physical confirmation they have been hunting for since the market's volatile summer. WTI front-month settled at $77.08 a barrel at Friday's close (2026-08-08), holding gains built through July even as Venezuela's rising production adds a counterweight to the bullish supply story.

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NYMEX WTI crude futures, front-month → EIA weekly US commercial crude inventories (ex-SPR) → Crude implied volatility (OVX-type) →

Connected coverage Stories linked to WTI through the market graph: same hub, spread, route or driver.

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