United States crude oil inventories fell for a sixth consecutive week, sliding by 3.7 million barrels on August 2 to 429.3 million, exceeding Reuters' forecast. International crude oil prices rebounded on August 7.

West Texas Intermediate (WTI) crude for September delivery increased by US$2.03 (2.77%), reaching US$75.23/barrel on the New York Mercantile Exchange.

Brent crude for October delivery rose by US$1.85 (2.42%), settling at US$78.33/barrel.