US crude oil supply shows a surprise climb

illustration-Concept of oil price - İllüstrasyon
US crude oil supply shows a surprise climb

According to the Energy Information Administration data released on Wednesday, U.S. crude oil supply last week increased by 5.4 million barrels to around 472 million barrels. Stockpiles at Cushing, Oklahoma also saw increase by 1.8 million barrels last week, reaching to 47.8 million barrels, the data showed. Oil prices on Tuesday saw a sharp rise following the reports of drone attacks targeting Saudi Arabia’s two oil pumping stations.Oil-market volatility was also triggered by “sabotage” to Saudi oil tankers on Monday. Plus, the ongoing tension between the U.S. and Chinese economies is affecting the oil prices.