Oil prices edged higher for a second day on July 25 due to falling US crude inventories and concerns about Iran and Venezuela.

Global benchmark Brent crude was up 50 cents, or 0.7%, at $73.94 a barrel by 0805 GMT, after gaining 0.5% on July 25, according to Reuters. US light crude was 5 cents higher at $68.57, having risen nearly 1% in the previous session.

According to the American Petroleum Institute (API) data on July 24. US crude and fuel stockpiles fell more than expected last week. U...

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