US crude futures finish the day 1.5% higher at a 15-week-high $81.80 a barrel, and end July with a 16% monthly rise, the largest one-month increase since January 2022's 17% climb.

"Crude prices are finishing a solid month on a high note as demand prospects remain impressive and no one doubts that OPEC+ will keep this market tight," says Edward Moya at Oanda, in a research note. "Most of the major central banks appear at the tail end of their tightening cycles." Moya adds that "the ace up the sleeve of oil bulls is that the energy market is still awaiting massive stimulus from China that should boost global growth prospects."

Source: Marketwatch