• Barrel bids tested into fresh peaks on Wednesday, but remain subdued.
• With US markets dark for Wednesday's holiday, market flows and volatility remain thin.
• An extended uptick in US Crude Oil supplies could dampen the mood.

West Texas Intermediate (WTI) US Crude Oil tested into fresh Wednesday highs on thin volume, clipping $81.00 per barrel as commodities drift softly higher despite US exchanges shuttered for the Juneteenth holiday. WTI found a new seven-week high and is on pace to extend into a second straight week of gain as Crude Oil recovers from a recent swing low, but bolstered energy market hopes of a summertime upswing in energy demand could slump again if US Crude Oil production continues to outpace draws. The American Petroleum Institute (API) reported another week-on-week increase in US Weekly Crude Oil Stocks this week, adding another 2.264 million barrels to counts and eating away at the previous week’s -2.428 million barrel decline as US production of Crude Oil continues to overhang on current demand levels.