Oil Prices Gain 2% on Tightening Supply

U.S. benchmark crude gained over $2 on Thursday as U.S. crude inventories tightened and OPEC+ vowed to keep the output cut status quo as tensions continued to flare in the Middle East and Russia-Ukraine.  At 4:23 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…