According to CoinMeta, crude oil prices rose in July before falling back, with Brent and West Texas Intermediate (WTI) crude testing key support levels due to tight U.S. inventories and geopolitical risks. On Friday, Brent crude futures fell by $1.03, or 1.2%, to $88 per barrel, while WTI crude fell by $1.50, or 1.8%, to $82.09 per barrel. Although an increase in transportation volume on major shipping routes in the Middle East alleviated supply concerns, high insurance costs and freight rates indicate that the risks have not disappeared. U.S. crude oil inventories decreased by 7.2 million barrels to 404.5 million barrels, far exceeding analysts' expectations, indicating that the U.S. market remains tight. Attention will be turned back to this issue at the end of this week, as seven member countries agreed to increase production by 188,000 barrels per day in August.