Oil rebounds as U.S. stockpiles drop, interest rate cut outlook brightens

Oil prices rebounded due to falling U.S. crude stockpiles and rate cut hopes. WTI and Brent futures rose. Investors anticipate economic growth from rate cuts. Powell's comments and limited Texas energy issues post-Hurricane Beryl supported prices. API and EIA foresee higher demand. Crude stocks fell by 1.923 million barrels on July 5. Gasoline inventories also decreased as ports reopened.