Crude oil market uncertainty continues to reign as the price consolidation period stretches into its fourth week.

Brent rebounds near $69.81 as strong US data and upbeat China GDP improve oil demand outlook amid ongoing geopolitical and supply risks.

Gasoline futures were down at midday, falling by more than 3cts from morning highs. The August RBOB contract was down by 1.1cts to $2.1594/gal at midday and the September contract was off by 0.99ct to $2.1192/gal.

Kazakhstan CPC Blend crude is seeing increased purchases by Asian refiners for August loadings compared to July.

The Nigerian crude price rose toward the Federal Government benchmark as drones targeted oilfields in Iraq for the fourth time,

Brent crude futures fell 5 cents to $69.16 a barrel, while U.S. West Texas Intermediate crude futures declined 9 cents to $66.89 a barrel. Both contracts settled more than $1 lower in the previous session.

Crude oil prices have crossed $70 per barrel despite an increase in production quotas assigned to OPEC+ members, with analysts predicting a spike in petrol costs.

Crude oil futures are holding up after three days of moderate declines. Downward pressure on prices this week has been limited despite underlying concerns about increased output by OPEC+ and an eventual economic impact on demand from U.