Oil prices spiked above $56 per barrel on Friday after the US launched overnight air strikes against the Shayrat air base, from which Syrian President Bashar al-Assad launched last week’s deadly chemical weapons attack. ICE Brent futures hit $56.08/bbl in early Friday trade before falling back as it became clear there was no immediate threat to oil supplies. International benchmark Brent had settled at $54.67/bbl Thursday, already up $1.71/bbl on the week. Prices have been firming despite record-high US crude inventories with falling gasoline tanks and rising fuel demand ahead of the summer driving season playing a greater role. US crude tanks rose for an eighth week in a row, adding 1.57 million bbl last week to hit a new high of 535.5 million bbl on Mar. 31, according to Energy Information Administration (EIA) data.
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