1608 GMT - Oil prices edge higher in volatile trading as investors weigh a sharp rise in U.S. crude inventories and global trade risks against attacks on shipping in the Red Sea. Brent crude rises 0.4% to $70.45 a barrel, while WTI is up 0.5% to $68.70 a barrel. The latest EIA data showed U.S. crude oil inventories climbed 7.1 million barrels last week, while gasoline stocks fell as demand picked up ahead of the Independence Day holiday. Prices found support from renewed concerns over Red Sea shipping disruptions after Yemen's Houthi rebels targeted a Liberian-flagged cargo ship. However, uncertainty over Trump's tariff plans and OPEC+'s recent output boost are clouding the outlook. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
July 09, 2025 12:08 ET (16:08 GMT)
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