From Investing.com: 2024-04-03 09:09:42

Oil prices surged on Wednesday due to shrinking U.S. inventories and potential supply disruptions in Russia, with OPEC+ keeping output levels unchanged. Both Brent and WTI crude prices rose to their highest levels since October, with growing fears of conflict in the Middle East. Mexico announced oil export cuts, while Ukraine attacked Russia’s oil refinery. The API reported a 2.3 million barrel decrease in U.S. oil inventories, pushing expectations that U.S. markets were tightening. Bank of America raised its 2024 oil price forecasts, citing geopolitical tensions and OPEC+ supply curbs.



Read more at Investing.com: Oil prices surge ahead on tight supplies; OPEC+ maintains output levels By Investing.com