Crude oil prices extended their gains from Tuesday after the American Petroleum Institute reported an estimated inventory draw of over 5 million barrels that observers had not expected.
West Texas Intermediate (WTI) soared past $90 in Thursday morning trading, up over 30% in three months, driven by sustained OPEC+ production cuts and indications that a tighter market is coming.
The per barrel price for the WTI grade of crude oil reached $85 on Friday the highest price point yet this year as falling inventory levels spook the market