as tensions continued to flare in the Middle East and Russia-Ukraine. At 423 p.m. ET on Thursday, U.S. crude benchmark West Texas Intermediate WTI trading up 2.05% at $83.02, while global benchmark Brent crude was trading up 1.61% at $87.48. WTI has gained 14% so far this year. This week’s inventory data from the Energy Information Administration EIA showed a U.S. crude oil stockpile build of 3.2 million barrels, compared to the previous week’s draw of 2 million barrels.
is meeting again next week and expectations are that it will leave its production policy unchanged. By Charles Kennedy for Oilprice.com
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