Oil prices declined on Thursday following reports of increased gasoline and distillate inventories in the United States, combined with Saudi Arabia’s decision to reduce crude oil prices for Asian customers in July. These developments occurred against the backdrop of persistent global economic uncertainty, which continues to weigh on energy demand forecasts. Brent crude futures fell by $0.14, or 0.2%, to $64.72 per barrel, while West Texas Intermediate (WTI) futures in the US declined by $0.24, or 0.4%, to $62.61 per barrel as of 05:00 GMT.