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videos | IST

US crude surges to highest level since November 2014

Oil prices rose to their highest level since November 2014 on Wednesday.
When it come to energy market is very volatile. There is the biggest weekly drop in the US inventories in this year by 9.9 million barrels and that has pushed the prices even higher.
US crude oil prices gained more than 3 percent overnight, Brent prices are also trading at a May highs and there are concerns about the Iran sanctions.
The supply concerns coming in from Canada, Libya and Venezuela are also contributing to it.
The demand estimates are on the stronger side for the second half of 2018.
This is the market that seems to be heating up right now.