Oil price hike as US sees inventories take a fall

摘要

CRUDE prices soared midweek on the back of a hefty fall in US weekly oil inventories, extending a recent rally fuelled by rising tensions between Washington and Tehran. Futures in London and New York climbed sharply after the US Energy Information Administration (EIA) said domestic crude oil stocks fell nearly 13 million barrels last week in the biggest decline since September 2016.